The Asian Development Bank (ADB) has raised South Korea's economic growth forecast for 2024 to 2.6%, up from 1.9% in April, driven by strong global AI-related demand. The ADB also projects stable private consumption and expects the semiconductor industry to offset global economic pressures.
The Eurasian Development Bank (EDB) has approved a new strategy through 2031 to expand its geographic footprint to 11 countries, including Georgia, Mongolia, Turkey, and Persian Gulf states. While not all will become shareholders, Oman is planned as a new member.
The Eurasian Development Bank (EDB) has revised its forecast for Russia's GDP growth, lowering it to 1% for 2026 from a previous 1.4%. Projections indicate a 1.5% growth in 2027, accelerating to 1.8% in 2028. The bank also anticipates the Russian Central Bank's key rate to reach 12% by end-2026.
India is negotiating with the World Bank and ADB for approximately $2.5 billion in loans to fund urban infrastructure and job creation. This comes amid a wider budget gap due to increased subsidies for oil prices affected by Middle East conflict.
Russia's GDP decline slowed to 0.3% in Q1 2026, supported by a 0.3% rise in industrial output. The Eurasian Development Bank expects further economic improvement in the second quarter driven by rising energy prices.
