EDB officially opens representative office in Tashkent

The Eurasian Development Bank (EDB) has officially opened its representative office in Tashkent. Nikolai Podguzov, Chairman of the EDB Management Board, announced that the bank has initiated full-scale operations in the country following the completion of all legal and administrative procedures regarding Uzbekistan's accession to the financial institution.

Photo: Today.kz

Speaking at the office opening ceremony in Tashkent, Podguzov noted that the launch marks the formal commencement of activities now that Uzbekistan has finalized its integration as the seventh member state of the EDB. The transition follows a dedicated decree signed by President Shavkat Mirziyoyev, with all subsequent implementation requirements now successfully met.

Expressing gratitude to the leadership of Uzbekistan for their trust, Podguzov emphasized the bank’s commitment to rapidly scaling up its presence in the domestic market. He assured partners that the EDB's entry into the country would serve as a landmark development, adding that the institution aims to quickly achieve a leading position in Uzbekistan in terms of non-sovereign financing volumes.

Uzbekistan officially became the seventh member state of the EDB in 2025. By the size of its capital share, the republic ranks third within the organization – holding a 10% equity stake – positioned behind Russia and Kazakhstan.

The Eurasian Development Bank was originally established by Russia and Kazakhstan in 2006. Over the years, the multilateral development institution expanded its regional reach as Armenia, Tajikistan, Belarus, and Kyrgyzstan subsequently joined the organization.