Asian Development Bank annual meeting opens, focusing on energy cooperation and stable supply of critical minerals

The Asian Development Bank (ADB) Annual Meeting opened on May 3 in Samarkand, Uzbekistan. Against the backdrop of escalating tensions in the Middle East, rising uncertainty in crude oil supply, and growing concerns over economic slowdown, participating countries will discuss issues such as economic cooperation in the Asia-Pacific region, energy collaboration, and the stable supply of critical minerals. The meeting will run until May 6. The Asian Development Bank stated that it has established a special fund to support mining development in developing countries. This fund aims to help developing countries move from solely mining critical minerals such as rare earths towards local refining and processing, thereby improving the industrial chain system. A plenary session will be held on May 4, focusing on the regional economic situation and attendant challenges. In regions such as Southeast Asia, where dependence on Middle Eastern crude oil is high, the risk of economic impact is increasing. It is expected that some developing countries will call on the Asian Development Bank to further strengthen its support. (CCTV)