The official opening ceremony of the 59th Annual Meeting of the Asian Development Bank (ADB) was held Monday in Samarkand, Uzbekistan. According to the Armenian News-NEWS.am correspondent, President of Uzbekistan Shavkat Mirziyoyev and President of ADB Masato Kanda delivered remarks at the event.

“Today’s meeting is attended by more than 4,000 authoritative experts from more than 100 countries, international financial institutions, leading banks and companies. I am confident that the important proposals and initiatives put forward at the Samarkand platform will lead to significant practical results in the future, and that each agreement reached will turn into a tangible and useful project,” the president of Uzbekistan said in his opening remarks.

In his remark, ADB President Masato Kanda called on Asian and Pacific countries to work together for shared development by strengthening cross-border linkages that promote stability and inclusive growth.

The decisions we make at this new crossroads will secure the future for the next generation. In this divided world, traditional and isolated means of development will fail. To survive and thrive in this new era, we must create a deeply interconnected and sustainable system, Kanda said in his address at the official opening ceremony of the session.

Representatives of the financial sector of ADB member countries, including a delegation from the Ministry of Finance of Armenia, led by Deputy Minister Edgar Mkrtchyan, attended the official opening ceremony of the conference.

During meetings held Sunday, the President of the ADB announced that the latter will allocate $70 billion by 2035 for new energy and digital infrastructure initiatives aimed at connecting electricity grids, expanding cross-border electricity trade, and improving broadband access in the Asia-Pacific.

By connecting electricity and digital networks across borders, we can reduce costs, strengthen connectivity, and provide reliable electricity and digital access to hundreds of millions of people, the ADB President said.

The theme of the 59th Annual Meeting of the ADB Board of Governors is “Crossroads of Progress: Advancing the Region's Connected Future.” The event will run until Wednesday.