News

Five Charts That Illustrate COVID-19’s Impact on the Middle East and Central Asia

The Middle East and Central Asia countries acted quickly and decisively in response to COVID-19. Despite their efforts, the pandemic has inflicted heavy economic damage on the region. Growth projections have been revised down since the April 2020 Regional Economic Outlook, the IMF says in its latest update to the report.

ADB President, Deputy Prime Minister of Uzbekistan discuss partnership and ongoing COVID-19 support

Asian Development Bank (ADB) President Masatsugu Asakawa and Uzbekistan’s Deputy Prime Minister, Minister of Investments and Foreign Trade, and ADB Governor Sardor Umurzakov discussed ADB’s ongoing support for Uzbekistan’s fight against the coronavirus disease (COVID-19) pandemic and the bank’s portfolio of projects in the country.

World Bank appoints new country manager for Uzbekistan

Marco Mantovanelli started his assignment as World Bank Country Manager for Uzbekistan on July 1, 2020, replacing Hideki Mori who was in this position since March 2017.

Uzbekistan resumes WTO membership negotiations

WTO members welcomed the resumption of WTO membership negotiations for Uzbekistan when the working party on the country’s accession to the WTO met on 7 July 2020—almost 15 years after its last formal meeting.

Members discuss reflecting impact of COVID-19 in WTO-led Aid for Trade initiative

World Trade Organization (WTO) members agreed to discuss how to reflect the impact of the COVID-19 pandemic in their future work and agreed to extend the current biennial Aid for Trade work program into 2022 when the next Global Review will also be held.

ADB, Mongolia sign projects for COVID-19 shock response, economic cooperation zone, solid waste management

The Asian Development Bank (ADB) and the Government of Mongolia signed three projects to lessen the socioeconomic impacts of the coronavirus disease (COVID-19) pandemic on poor and vulnerable groups in Mongolia, to help support Mongolia’s post-pandemic recovery by developing an economic cooperation zone, and improve solid waste management.

Joint statement by heads of multilateral development banks and the WTO on supporting trade finance during the COVID-19 crisis.

This statement was issued by the World Trade Organization and heads of multilateral development banks, including the President of the Asian Development Bank.

EBRD ensures sustainable operations of KazTransGaz

The facility of up to €243.5 million will help KazTransGas address the company’s liquidity and working-capital needs caused by the economic impact of the coronavirus crisis, and will also secure the uninterrupted supply of natural gas to households across Kazakhstan.

EBRD and UNWTO boost tourism recovery

The European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organisation (UNWTO) are joining forces to boost the recovery of the tourism sector.

ADB provides $500 million loan to mitigate health and economic impacts of COVID-19 in Uzbekistan

The Asian Development Bank (ADB) approved a $500 million loan to help the Government of Uzbekistan mitigate the adverse health and economic impacts of the coronavirus disease (COVID-19) pandemic.