WNAM REPORT: From May 3 to 6, 2026, Samarkand will host the Asian Development Bank’s (ADB) 59th Annual Meeting. The event is expected to bring together heads of banking and financial institutions from 69 member countries, as well as representatives of international organizations. Discussions will focus on the key development challenges facing Asia and possible ways to address them.
The holding of such a high-level forum in Uzbekistan reflects the growing recognition of the country’s ongoing economic reforms and its strengthening position within the global financial system. A significant factor has also been the notable expansion of cooperation between Uzbekistan and the ADB in recent years, as evidenced by a number of objective international assessments of the country’s socio-economic development.
First, Uzbekistan’s international standing has steadily risen, and its performance in global rankings has improved. In particular, in the Government Technology Maturity Index published by the World Bank, the country advanced 71 positions, entering the world’s top ten.
Second, despite ongoing disruptions in global production and transport and logistics chains, rising commodity prices, and tighter financial conditions, Uzbekistan continues to demonstrate sustainable economic growth. In 2025, for the first time in the country’s history, gross domestic product exceeded $145 billion, and gold and foreign exchange reserves surpassed $60 billion.
At the same time, the volume of foreign investment attracted increased significantly, reaching $43.1 billion, and the share of investment in GDP exceeded 31 percent. Moreover, despite growing protectionism and pressure from sanctions in the global trading system, the country increased its exports by 23 percent, bringing them to $33.4 billion.
Third, cooperation between Uzbekistan and the ADB is comprehensive and long-term. The total portfolio of joint initiatives comprises 174 projects worth $27.5 billion, of which 66 projects worth $10.5 billion have already been completed, and another 30 projects valued at $4.6 billion are currently being implemented. These figures confirm the ADB’s status as one of Uzbekistan’s leading development partners.
Building on accumulated experience, the ADB launched a new five-year partnership strategy with Uzbekistan in August 2024, covering 2024-2028. Its key priorities include supporting the country’s transition to a green and inclusive economy, enhancing private-sector competitiveness, and stimulating investment in human capital.
In addition, Uzbekistan and the ADB approved a Memorandum of Understanding for 2026-2028, which outlines the implementation of 28 projects totaling $4.2 billion.
The fact that the meeting is being held in Uzbekistan positions the country as a regional hub for dialogue on development and investment, demonstrates progress in reforms, and helps attract global partners to accelerate the country’s sustainable development. According to experts, the meeting will serve as an important platform for strengthening cooperation and for concluding priority agreements between the Government of Uzbekistan and the ADB.
Furthermore, to consolidate long-term priorities, President of Uzbekistan Shavkat Mirziyoyev put forward an initiative to mark the Samarkand summit with the signing of an important document – the Expanded Strategic Partnership Programme with the ADB for 2027-2030. It will serve as a medium-term roadmap, with primary emphasis placed on human capital and social resilience.
Thus, cooperation between Uzbekistan and the ADB has evolved from financial assistance into a strategic partnership. Today, the Bank finances key projects, shapes the reform agenda, and supports the long-term transformation of the national economy, effectively acting as an institutional partner.
Such cooperation opens several significant advantages for Uzbekistan:
- Economic – access to concessional loans and grants, reduced budgetary burden for implementing large-scale programs, improvement of the investment climate and inflow of long-term foreign investment, infrastructure development, and employment growth;
- Structural – acceleration of market reforms, liberalization, and diversification of the economy, and private-sector development;
- Strategic – integration into the global economy, transition to a green growth model, and participation in regional value chains and transport-logistics corridors.
As can be seen, the modern ADB agenda largely aligns with Uzbekistan’s current reform trajectory. According to experts, the country has aligned its national strategy with the Bank’s priorities and, as a result, can attract even greater volumes of financing to accelerate structural reforms and strengthen economic resilience.
Overall, the key features of the modern model of cooperation between Uzbekistan and the ADB are comprehensiveness (covering all major sectors), strategic orientation (alignment with the long-term goals of “Uzbekistan 2030”), institutional depth (reforms, regulation, and standards), and sustainability (environmental protection and inclusiveness).
Thus, today the ADB is not merely a creditor but a key strategic partner in structural reforms, economic modernization, and Uzbekistan’s integration into the global economy.
Dmitriy Trostyanskiy,
Doctor of Economic Sciences,
Chief Research Fellow
