The $12.5 Billion Investment Designed to Counter China’s Minerals Dominance

The Asian Development Bank is committing $12.5 billion in assistance to Uzbekistan, aiming to hasten the Central Asian nation’s economic modernization. In addition, the bank has unveiled an initiative apparently intended to loosen China’s grip on supply chains for critical minerals and rare earths. The announcements came as the ADB’s board of governors convened for its annual meeting on May 3 in the Uzbek city of Samarkand. The new Uzbek-ADB Partnership Program will run through 2030. A major focus is the development of a more…