At the 59th Annual Meeting of the Asian Development Bank (ADB) in Samarkand, Uzbekistan, discussions take place amid rising global uncertainty. The ongoing global conflict in the Middle East, which began on February 28, 2026, has disrupted the existing world economic order, sending ripple effects to supply and value chains across the world. Asia and the Pacific have been hit severely and are facing intensified economic pressures, compounded by climate risks. In this context, civil society perspectives from across the region highlight the importance of carefully considering the embedded risks of current policy directions, project operations, and financing approaches. 

 

This moment is a critical juncture in Asia’s development trajectory. ADB must make prudent and far-sighted strategic decisions with its financing in order not to derail the region from meeting its SDG targets and Paris Alignment goals. This is not the time to embed the region into imported fossil fuel supply chains, and experiment with high-risk energy solutions such as Nuclear and Critical Minerals extractivism, both sectors that severely threaten the ADB's performance-based Safeguards standards. The Bank must prioritise basic development needs: poverty alleviation, public health, human rights, food security, water and sanitation, and climate change over large-scale commercial project interests.

 

Global Economic and Geopolitical Context

The genocide in Gaza, and the armed conflict-related deaths in Sudan, Yemen, Lebanon, Iran, and others, all illustrate the failure of the international system to protect Human Rights. To this end, ADB, as a multilateral development partner committed to sustainable development in Asia, must hold the line in upholding Human Rights in all of its operations.  Consequently, transport disruptions of energy resources in the global economic system have led the International Monetary Fund (IMF) and the World Bank to issue warnings that emerging markets and developing nations will be hit hardest by rising energy costs and supply chain disruptions. Growth forecasts for developing economies have been revised down, inflation expectations have risen, and vulnerable nations are grappling with tighter budgets, higher debt burdens, and unprecedented food supply concerns.

 

In this context, even a sustained 10% increase in oil prices could raise global inflation by 0.4 percentage points and reduce global output by 0.1–0.2%, further tightening the already constrained fiscal space of developing countries, according to the International Monetary Fund (2026). Further, ADB’s Asia Outlook projected that if the war persisted through the third quarter of the year, developing countries would experience a 4.7% decline in growth. Simultaneously, the International Energy Agency has reported that this conflict has caused the largest oil supply disruption on record, driving crude prices above $100 per barrel. Additionally, UN Trade and Development statistics show that rising interest payments have reduced government revenue available for other public expenditures in 99 developing countries between 2018 and 2024.

 

Implications for Developing Member Countries

Farmers across Asia are queuing for hours, carrying their irrigation pumps, in search of a drop of diesel. Their woes are compounded by a sweeping fertiliser shortage, which is likely to prove ominous for the next harvest. All this is driving rising food prices and panic among urban and rural communities. Due to oil supply shortfalls, educational institutions, offices, factories, and markets are all closing down early and reducing working hours to manage energy supply needs, leading to loss of wages and depreciating household incomes. Additionally, the reactive push for further fossil fuel supply procurement is contributing to the climate crisis, as each new fossil fuel project, justified as “energy security”, deepens import dependence, heightens the risk of stranded assets, and pushes countries further from a just transition and their Paris targets. In this ADB AGM, ongoing dialogue with civil society is vital, not optional. Independent civil society voices, such as the Forum and its allies, are mandated to speak truth to power at the ADB. Our goal is to assert to the decision makers of ADB that all bank operations must focus on protecting people’s livelihoods, food security, and access to critical social services such as health and education. Thus, ADB operations must be grounded in the Sustainable Development Goals (SDGs) and internationally ratified human rights conventions, including core ILO standards. We are urging the ADB to rethink and curtail its privatisation agenda and prioritize the public interest amid this turbulent time.

 

The Forum in this AGM calls into question the fundamental objectives of the ADB: Who benefits from ADB's projects and who bears the losses? Who bears the heaviest burden of risk, and who accumulates wealth risk-free?