Uzbekistan becomes shareholder in Eurasian Development Bank with 10% stake

Uzbekistan will acquire a 10% stake in the charter capital of the Eurasian Development Bank (EDB), according to an announcement published on the bank’s official website.

Photo: AP

The country’s accession to the EDB will grant Uzbekistan access to funding for investment projects across various sectors, including transport, energy, water management, industry, and agriculture. The bank stated that it plans to finance its first projects in Uzbekistan as early as this year.

EDB Chairman Nikolai Podguzov welcomed Tashkent’s decision and emphasized that the partnership with Uzbekistan opens new opportunities for sustainable growth and the improvement of citizens’ well-being.

Earlier, Uzbekistan signed the agreement to join the Eurasian Development Bank, with the law officially approved by President Shavkat Mirziyoyev.

The legislation was passed by the Legislative Chamber of the Oliy Majlis on January 21, 2025, and later approved by the Senate on March 18.

The Eurasian Development Bank, which has a charter capital of $7 billion, finances investment projects in its member states. Its core activities include support for initiatives in the green economy, transport and logistics, and alternative energy sources.