Uzbekistan joins the Eurasian Development Bank (EDB) as its seventh member state, following the signing of a law by President Shavkat Mirziyoyev. With this move, Uzbekistan secures a 10% equity stake, making it the third-largest shareholder in the multilateral development institution.
The accession ensures Uzbekistan’s full and active participation in the EDB’s activities, opening new avenues for the country to pursue large-scale infrastructure, industrial, and agricultural projects.
“We welcome Uzbekistan's decision to become a member state of the Eurasian Development Bank,” said Nikolai Podguzov, Chairman of the EDB Management Board. “This partnership opens up great opportunities for the economic development of both Uzbekistan and the entire region. The Bank has already begun preparing investment projects in the Republic, and we expect to finance the first of them this year.”
Uzbekistan’s membership is expected to facilitate the modernization of its transport infrastructure, energy systems, and water management, while also boosting industrial output and agricultural productivity. For the Bank's existing members, Uzbekistan’s entry enhances regional cooperation, strengthens trade relations, and contributes to joint efforts in addressing food security challenges.
The EDB Council approved Uzbekistan’s admission on July 16, 2024. During the Supreme Eurasian Economic Council meeting in December 2024, President Mirziyoyev reaffirmed the country’s intent to join the Bank. The Legislative Chamber of the Oliy Majlis passed the law in January 2025, and the Senate approved it last month.
Established in 2006, the Eurasian Development Bank is a multilateral institution that promotes integration and sustainable development across its member states.
As of 2025, the Eurasian Development Bank manages a portfolio of 305 projects valued at $16.5bn, concentrating on infrastructure development, sustainable energy, agriculture, and digital technologies.
The Bank aligns its operations with the UN Sustainable Development Goals and ESG principles.
With its headquarters in Almaty, the EDB operates a branch in St. Petersburg and maintains representative offices in Astana, Bishkek, Dushanbe, Yerevan, Minsk, and Moscow.
In 2024, the Bank signed approximately 30 new projects, raising its total investment for the year to $2.3bn—among the highest in its history. EDB Chairman Nikolai Podguzov emphasized the Bank’s consistent role in the region over the past 18 years, with a project portfolio nearing 300 initiatives.
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