Hong Kong stands ready to help Asian Development Bank (ADB) member economies diversify amid the volatility brought about by the conflict in the Middle East, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said on Sunday.

Attending the 59th Annual Meeting of the Board of Governors of the ADB in Samarkand, Hui said tensions in the Middle East have brought volatility to energy supplies, financial markets and trade, and the ADB has an important role to help members transition toward a greener and more diversified global value chains structure.

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As an international financial center, global tech hub, and green finance leader in Asia, Hong Kong is prepared to support the ADB in achieving its mission, Hui said.

ADB members can utilize Hong Kong's various financial services for diversification of funding sources, including green and catastrophe bonds, risk management tools, gold reserves and delivery, he added.

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Hui also said that, in an era of multiple crises, the ADB shares information with members in different aspects and builds enduring institutional strength across the region, helping members navigate complex transitions “that no single member can master alone”.

On Monday, Hui will attend the opening session and a lunch hosted for Governors and the Governors' Business Session of the ADB Annual Meeting. He will also meet with representatives of other participating member economies.