EBRD plans to invest an additional €1.1bn in Uzbekistan in 2025, with the majority of funding aimed at supporting the private sector.
This was discussed during a meeting between President Shavkat Mirziyoyev and EBRD President Odile Renaud-Basso on June 11, ahead of the third session of the Foreign Investors Council.
The two sides noted the steady expansion of their strategic partnership. EBRD’s total investments in Uzbekistan have surpassed €5.5bn, with ongoing support across key sectors of the economy.
President Mirziyoyev emphasized the importance of enhancing the effectiveness of cooperation and outlined several priority areas.
These include the technological modernization of the water supply system, implementation of energy efficiency programs, development of the mortgage market, infrastructure improvements in free economic zones, and the expansion of small and medium-sized businesses.
The president also highlighted the need to promote women’s entrepreneurship, support startups focused on digital transformation, and introduce artificial intelligence solutions.
Special attention was given to advancing public-private partnership projects in education and healthcare.
The meeting also included a discussion of the upcoming agenda for the Foreign Investors Council, aimed at deepening Uzbekistan’s investment cooperation with international partners.
EBRD's Role in Uzbekistan's Economic Growth
Since 1992, the European Bank for Reconstruction and Development (EBRD) has played a central role in Uzbekistan’s development, making the country its largest investment recipient in Central Asia. As of January 31, 2025, the EBRD has invested €5.49 billion across 173 projects, spanning sectors from renewable energy to banking.
With offices in Tashkent, Andijan, and Urgench, the bank supports Uzbekistan’s green transition, including a long-term plan to decarbonize the power sector and reach carbon neutrality by 2050. Its strategy also promotes reforms in civil society, media freedom, and women’s entrepreneurship.
The EBRD-backed Foreign Investors Council helps improve the investment climate, while Uzbekistan itself contributed €10mn in 2024 to regional infrastructure projects led by the bank.
Uzbekistan’s economy recorded strong performance in 2024, driven by services and industrial growth. Inflation, which peaked at 10.6%, declined to 9.8% by year-end. The central bank aims to reduce it to 5% by 2026. The EBRD projects Uzbekistan’s GDP will grow by 6% annually in both 2025 and 2026.
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