Uzbekistan Acquires 10% Stake in Eurasian Development Bank
Uzbekistan Joins Eurasian Development Bank with 10% Stake
Uzbekistan has announced its decision to acquire a 10% stake in the charter capital of the Eurasian Development Bank (EDB), as revealed on the bank’s official website. This move allows Uzbekistan to access funding for investment projects in various sectors such as transport, energy, water management, industry, and agriculture. The EDB has stated its intention to fund its first projects in Uzbekistan as early as this year.
Nikolai Podguzov, Chairman of the EDB, welcomed Tashkent’s decision and highlighted the partnership with Uzbekistan as a means to achieve sustainable growth and improve the well-being of citizens. The agreement for Uzbekistan to join the Eurasian Development Bank was previously signed, with President Shavkat Mirziyoyev officially approving the law.
The legislation for Uzbekistan’s membership in the EDB was passed by the Legislative Chamber of the Oliy Majlis on January 21, 2025, and later approved by the Senate on March 18. With a charter capital of $7 billion, the Eurasian Development Bank finances investment projects in its member states. Its main activities include supporting initiatives in the green economy, transport and logistics, and alternative energy sources. This partnership signifies a new chapter in Uzbekistan’s economic development and cooperation with regional institutions.
