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Uzbekistan to host 59th annual meeting of ADB

Another significant of event held on the margins of the annual meeting was the Business Session of the Board of Governors. This is the main meeting of the Governors that takes place at each ADB Annual Meeting. Governors adopt resolutions; take note of and approve documents related to the business, finance, administration, and operations of ADB; and provide guidance to the institution through their statements. This session also provides an opportunity for the ADB President to report on progress since the previous meeting and to share key organizational messages from ADB Management.

Uzbekistan was also part of this meeting and has expressed its commitment to reforms amid global economic uncertainty. In his speech, the First Deputy Minister of Economy and Finance, Ilkhom Norkulov, expressed optimism about Uzbekistan’s economic future. He said the country updated its national goal — to reach $5,000 GDP per capita by 2030 with a total GDP of $200 billion — despite ongoing global uncertainty.

Norkulov, together with ADB Vice President Yingming Yang and ADB Country Director for Uzbekistan Kanokpan Lao-Araya, outlined three key areas where Uzbekistan seeks expanded support from the ADB. He pointed to regional connectivity development, joint climate change efforts, and better water resource management. He encouraged ADB to strengthen these efforts through capacity-building programs and regional initiatives. He also proposed simplifying project implementation and using Uzbekistan’s national procurement systems.

One of the important remarks of the session was the announcement of Uzbekistan becoming the host of the 59th Annual Meeting of the ADB in Samarkand in 2026.

Following the event, the Board of Governors of the Asian Development Bank approved the bank’s 2024 financial statements and a $1.539 billion net income allocation from its ordinary capital resources, the highest recorded in ADB’s history. Allocable net income is defined as net income after appropriation of guarantee fees to the special reserve and certain adjustments reported in the cumulative revaluation adjustments account.


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