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Uzbekistan to become seventh participant of Eurasian Development Bank

According to Nikolay Podguzov, Chairman of the Management Board of the EDB, the bank has already begun working on investment projects in the republic, the first of which it intends to finance this year

MOSCOW, April 10. /TASS/. Uzbekistan will become the seventh participant in the Eurasian Development Bank (EDB) with the stake of 10%, according to a press release on the bank’s website.

"President of the Republic of Uzbekistan Shavkat Mirziyoyev signed a law approving the accession of Uzbekistan to the Agreement on the Establishment of the Eurasian Development Bank (EDB). Uzbekistan will become the seventh participant in the Bank and the third largest shareholder with a share in the capital of 10%. The adoption of the law ensures the right to full and effective participation in the Bank's activities," the statement said.

According to Nikolay Podguzov, Chairman of the Management Board of the EDB, the bank has already begun working on investment projects in the republic, the first of which it intends to finance this year.

On July 16, 2024, the Bank's Council approved accession of Uzbekistan.

In December 2024, Uzbek President Shavkat Mirziyoyev announced at a meeting of the Supreme Eurasian Economic Council in St. Petersburg his intention to complete all necessary procedures and join the EDB in early 2025. In January, the law was adopted by the Legislative Chamber of the Oliy Majlis, and in March, it was approved by the Senate of the Republic of Uzbekistan.

The Eurasian Development Bank is a multilateral development bank that carries out investment activities in the Eurasian space. By 2025, the EDB's accumulated portfolio includes 305 projects with a total investment volume of $16.5 billion. The main share of the EDB's portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering.

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