16:21 / 19.11.2021

Uzbekistan discusses membership in the Eurasian Development Bank 

During his stay in the Russian Federation, Deputy PM – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov held a meeting with Board Chairman of the Eurasian Development Bank Nikolai Podguzov.

Photo: MIFT

During the meeting, the parties discussed the current state of interaction on Uzbekistan’s obtaining the status of an EDB member, the progress of cooperation on the development and implementation of joint projects and other topical issues.

It was noted that at the moment a portfolio of promising projects has been formed to modernize basic infrastructure, develop water management and the healthcare system. Further steps were considered to promote these projects and raise funds from the EDB for their implementation. They also considered the possibility of providing credit lines by the Bank to commercial banks of Uzbekistan in order to finance projects of small and medium-sized businesses.

Opportunities for establishing direct cooperation and exchange of experience between the EDB and the Agency for Strategic Development of the Republic of Uzbekistan were discussed. The Bank’s management expressed its readiness to provide consulting assistance to the Agency in the areas of management, assessment and examination of investment projects.

Following the meeting, the parties agreed to send an expert group of the Bank to Uzbekistan for a substantive discussion of the projects being developed, reaching specific agreements, as well as developing specific areas of interaction with the Agency.

Photo: MIFT

The Eurasian Development Bank (EDB) is a regional development bank operating in accordance with an interstate agreement dated January 12, 2006, signed by authorized representatives of Russia and Kazakhstan. The EDB’s mission assists member countries in the transition to an open market economy, stimulates economic growth and expands trade-economic ties.