Banks

ADB has backed Singapore’s Sunseap Group’s project to build Cambodia’s first large-scale solar power project under a long-term agreement with Electricité Du Cambodge.

ADB annual operations exceeded the $30 billion mark for the first time in its 50-year history last year as regional demand for development finance and knowledge — particularly on infrastructure — continues to grow.

ADB has approved an $80 million loan for the electrification of 145 kilometers (km) of railway in Uzbekistan, linking the cities of Pap, Namangan, and Andijan. 

ADB has appointed Xiaohong Yang as new Country Director for Pakistan. Ms. Yang, who assumed office on April 24, 2017, is the first woman to head ADB’s resident mission to the country.

The Chairman of Vnesheconombank Sergey Gorkov has joined the Supervisory Board of the Agency for Strategic Initiatives (ASI). The order was signed by the Chairman of the Russian Government Dmitry Medvedev.

As a result of the transaction, VTB Capital reduces its ownership in Thalita to 25.01%, Fraport AG’s and Qatar Investment Authority’s stakes will remain at 25% and 24.99% respectively.

ADB, through its Lao PDR Resident Mission, and the Ministry of Foreign Affairs jointly organized an event to celebrate 50 years of development partnership between the country and ADB.