Business
ADB’s governors approve ADB’s financial statements
The Board of Governors of the Asian Development Bank approved ADB’s financial statements in its first-ever virtual Annual Meeting.
ADB on its official website wrote that its Board of Governors had approved ADB’s financial statements and the allocation of its 2019 net income in the Annual Meeting today.
The annual meeting took place through video conferencing (VTC) Friday amid the COVID19 pandemic.
In his remarks to the meeting, ADB President Masatsugu Asakawa said, “Our immediate priority is to provide vital support to developing member countries as they confront the COVID19 pandemic and return their economies to a path of sustainable growth,”
“Your approval today of the financial statements and allocation of net income ensure that we have the tools and financial stability to address the enormous challenges that now affect the lives and economies of millions of people across our region,” he added.
The Chair of the Board of Governors said, “Our choices and efforts today will determine whether we can overcome the current health care and economic crises.”
He added, “The ADB should turn this crisis into an opportunity while enhancing knowledge sharing on COVID-19 policy responses and expanding support for low-income countries and vulnerable groups.”
The Board of Governors adopted a resolution to allocate $1.069 billion of net income from ADB’s 2019 ordinary capital resources.
The allocable net income will be distributed as follows:
- $615.7 million to support ADB’s capital adequacy to generate net income,
- $259.5 million to the Asian Development Fund, which provides grants to ADB’s low-income member countries,
- $130 million to the Technical Assistance Special Fund, which includes support to respond to the COVID19 pandemic,
- $30 million to the Regional Cooperation and Integration Fund,
- $24 million to the Climate Change Fund, and
- $10 million to the Asia Pacific Disaster Response Fund.
ADB is actively supporting its members as they address the effects of COVID-19 through its $20 billion response package announced on 13 April.
Business
Uzbekistan, Kazakhstan target Afghanistan in push to expand regional trade
According to Uzbek media, the initiative was discussed during the Uzbek-Kazakh Business Forum in Tashkent.
Uzbekistan and Kazakhstan are seeking to deepen economic cooperation and jointly expand into new regional markets, including Afghanistan, as part of broader efforts to strengthen trade and investment across Central Asia and the Middle East.
According to Uzbek media, the initiative was discussed during the Uzbek-Kazakh Business Forum in Tashkent, where business leaders and trade associations from both countries explored opportunities to promote their products in third-country markets, particularly Afghanistan, Syria and Iraq.
Afghanistan featured prominently in the discussions, with participants noting that Kazakhstan’s exports to Afghanistan reached nearly $500 million during the first seven months of 2025—almost matching the country’s total exports to Afghanistan for all of 2024. Officials said the long-term goal is to increase exports to $3 billion.
The forum also highlighted growing imports of mineral raw materials from Afghanistan. Participants discussed a proposed agreement to supply Afghan zinc ore to the Almalyk Mining and Metallurgical Complex in Uzbekistan.
Beyond Afghanistan, delegates examined emerging business opportunities in Syria and Iraq, where reconstruction efforts are expected to drive demand for food products, construction materials and industrial goods.
The forum also focused on improving regional logistics. Officials discussed using available capacity on Turkish freight trucks transiting Uzbekistan, a move expected to reduce transport costs and improve access to regional markets.
At the conclusion of the forum, both sides agreed to organise joint business missions to third-country markets, including Aleppo, Syria, in late September and Erbil, Iraq, in early October, with the aim of strengthening commercial partnerships and identifying new investment opportunities.
The discussions reflect growing economic cooperation between Uzbekistan and Kazakhstan as both countries seek to expand regional connectivity, diversify exports and strengthen trade links with neighbouring markets, including Afghanistan.
Business
Uzbekistan’s Fergana region strengthens economic ties with Afghanistan
The meeting followed a Fergana delegation’s visit to Afghanistan on July 26-27, during which officials and business representatives held talks in Kabul and Mazar-i-Sharif.
Uzbekistan’s Fergana region is moving to deepen economic cooperation with Afghanistan after officials and business leaders agreed to fast-track joint investment projects and expand bilateral trade.
According to a statement from the Fergana Regional Administration, Governor Khayrullo Bozorov met with leading Afghan business figures, including Emerald Diamond Trading Director Abdul Hamid Anyuri, Kam Air Director Atilla Azimi, Tojmahal Petroleum Director Abdul Latif Nawruzi, and their regional partners to discuss practical measures for strengthening economic ties.
The meeting followed a Fergana delegation’s visit to Afghanistan on July 26-27, during which officials and business representatives held talks in Kabul and Mazar-i-Sharif. The delegation also inaugurated Fergana Trade Houses in both cities to promote trade and commercial cooperation.
“The parties agreed to accelerate the implementation of joint investment projects, increase bilateral trade and elevate cooperation to a new level,” the regional administration said.
Discussions focused on turning agreements reached during the Afghanistan visit into practical projects, identifying new investment opportunities, and expanding trade between the two sides. Afghan business representatives expressed interest in working with Fergana companies in key sectors including trade, agriculture, aviation, energy and logistics, while presenting several new investment initiatives.
Bozorov reaffirmed Fergana’s commitment to strengthening economic relations with Afghanistan, saying the regional administration stands ready to support joint projects and create favourable conditions for closer business cooperation.
The regional administration said the meeting reflects growing momentum in economic engagement between Uzbekistan and Afghanistan, with both sides seeking to expand cross-border trade, attract investment and develop new commercial partnerships as part of broader efforts to strengthen regional economic connectivity.
Business
Afghanistan invites Iranian investors to expand economic cooperation
Discussions focused on expanding private-sector cooperation, increasing joint investment, and boosting bilateral trade between the two countries.
Afghanistan has invited Iranian investors to explore business opportunities and participate in joint economic projects as the country seeks to strengthen investment and trade ties with its western neighbor.
Kamaluddin Tawhidi, head of the Afghanistan-Iran Joint Chamber of Commerce, made the appeal during a visit to Iran, where he attended the “Economic Cooperation Opportunities with Afghanistan” conference in Alborz Province, according to Iran’s state broadcaster.
Speaking at the event, Tawhidi highlighted Afghanistan’s investment potential and encouraged Iranian businesses to take advantage of opportunities across a range of economic sectors.
Discussions focused on expanding private-sector cooperation, increasing joint investment, and boosting bilateral trade between the two countries.
Tawhidi said stronger economic partnerships could create new business opportunities and support broader regional economic growth.
The meeting comes as Afghanistan continues efforts to attract foreign investment and deepen economic cooperation with neighboring countries.
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