Legislative Chamber approves Uzbekistan’s accession to BRICS New Development Bank

During the parliamentary session, deputies described the accession as a historic milestone for the republic. They emphasized that joining the NDB is a logical extension of Uzbekistan’s open and pragmatic investment policy, aimed at diversifying the country’s sources of external financing.

The partnership with the NDB is expected to provide Uzbekistan with access to long–term, concessional financial resources. These funds will be directed toward the modernization of various economic sectors and the development of modern infrastructure. The bank specifically focuses on infrastructure and sustainable development projects within emerging economies, operating on the principle of mutually beneficial partnership between member states.

Lawmakers noted that membership will trigger a flow of alternative investments, particularly for high–priority projects in energy, transport, water management, and general infrastructure. This aligns with the strategic goals discussed during the BRICS+ summit in Kazan in October 2024, where President Shavkat Mirziyoyev expressed Uzbekistan’s intent to deepen ties with the bloc and its financial mechanisms.

The groundwork for this legislative approval was further solidified in June 2025 during a meeting between President Mirziyoyev and NDB President Dilma Rousseff. Following their discussions ahead of the Tashkent International Investment Forum, it was revealed that the NDB Board of Governors had given "agreement in principle" for Uzbekistan’s membership.

As part of the upcoming cooperation, a program of priority joint projects has already been outlined. This portfolio is estimated to be worth approximately $5 billion, focusing on large-scale industrial and social infrastructure upgrades across the country.