Uzbekistan joins Eurasian Development Bank to boost economic cooperation

The bank will operate in accordance with international agreements, international law norms, and generally accepted banking principles. Its charter, which is annexed to the Agreement, regulates its activities, including its objectives, functions, authorized capital, and management procedures.

The Eurasian Development Bank will also be responsible for collecting, analyzing, and systematizing data on the economic conditions, financial markets, investment opportunities, and monetary and foreign exchange relations of its member states.

Uzbekistan’s accession to the Agreement establishes a legal foundation for the country’s full participation in the bank’s activities. This will help strengthen economic ties, promote economic growth, and support integration processes across the Eurasian region through investment cooperation.

Earlier, the Legislative Chamber of Oliy Majlis also approved Uzbekistan’s accession.

With an authorized capital of $7 billion, the Eurasian Development Bank finances investment projects in its member states. Its key areas of focus include supporting projects in the fields of green economy, transportation and logistics, alternative energy, digital transformation, and agriculture.