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The Asian Development Bank said on Sunday it was ready to deliver urgent help to the countries in the Pacific region, which has been rattled by the war in the Middle East and resulting fuel shortages.
Speaking at the ADB’s annual 59th meeting in Uzbekistan’s ancient city of Samarkand, ADB President Masato Kanda said Pacific region’s countries have been especially exposed to the conflict and required urgent help to address their energy needs.
“Beyond this immediate support, we are ready to support Pacific countries to build resilience against external shocks through diversifying energy sources,” he said.
Earlier on Sunday, the bank unveiled a $70 billion programme to expand energy and digital infrastructure across the Asia-Pacific region by 2035.
Kanda said according to the bank’s recent estimates, growth of the Pacific will decline to 2.8% in 2026 from 4.2% last year.