The Asian Development Bank’s Annual Meeting: A Call for Climate Action and Sustainable Development
BAKU, Azerbaijan, May 5. The Deputy Prime Minister of Uzbekistan, Jamshid Khodjaev, made a powerful statement during the annual meeting of the Asian Development Bank (ADB) in Tbilisi, emphasizing the importance of ADB’s role in combatting climate change and promoting sustainable development.
Khodjaev highlighted the need for ADB to support investments in human capital and assist communities in addressing employment challenges, particularly through small and medium-sized enterprises that are crucial for many developing economies.
He stressed the importance of ambitious climate change resilience efforts, urging ADB to continue its support for countries in adopting advanced, climate-resilient approaches to achieve the goals of the Paris Agreement. Investing in green and livable cities, Khodjaev noted, is essential for inclusive and environmentally sustainable development.
Furthermore, Khodjaev called for ADB to promote economic and financial resilience among partner countries to help them withstand and recover from shocks. Sustainable debt management, local currency development, and the expansion of social safety nets for vulnerable populations were identified as critical priorities.
In addition, Khodjaev encouraged ADB to prioritize sustainable infrastructure and digitalization, stressing the importance of equitable access to digital infrastructure to drive progress towards the Sustainable Development Goals (SDGs).
Collaboration among Multilateral Development Banks (MDBs) was also highlighted as key to promoting common approaches and standards in areas such as quality infrastructure and impact investment. This collaboration would help harmonize SDG management and ensure transparent reporting of results.
Uzbekistan reaffirmed its commitment to working closely with ADB and its members to build a better future for its people. The theme of the 57th Annual Meeting, “Bridge to the Future,” encapsulates the shared vision for sustainable and inclusive development.
The Annual Meeting serves as a platform for ADB governors, finance ministers, central bank governors, government officials, private sector representatives, and other stakeholders to discuss development challenges in Asia and the Pacific. It is a crucial opportunity for dialogue and collaboration towards a more sustainable future.