President of Uzbekistan Shavkat Mirziyoyev has signed a law approving the country’s accession to the Agreement Establishing the Eurasian Development Bank (EDB).

Uzbekistan will become the seventh member of the Bank and the third-largest shareholder, with a 10% equity stake.  The adoption of this law grants the country full and effective participation in the Bank's operations, according to an official release.

“We welcome Uzbekistan’s decision to become a member state of the Eurasian Development Bank.  This partnership opens up significant opportunities for the economic development of both Uzbekistan and the entire region.  The EDB will support Uzbekistan in its pursuit of sustainable and rapid growth, aiming to improve the well-being of its citizens.  The Bank has already begun evaluating investment projects in the country and plans to finance the first ones this year.  With each new project and member, we continue to fulfill our mission — promoting sustainable development across the Eurasian region,” said Nikolay Podguzov, Chairman of the EDB Management Board.

Uzbekistan’s accession to the Bank is expected to create new opportunities for the country in modernizing transport infrastructure, developing the energy and water sectors, and accelerating industrial and agricultural growth.

The expansion of the Bank’s membership also brings benefits to existing member states, including enhanced industrial cooperation, trade relations, and food security.

The decision to admit Uzbekistan as a member of the EDB was approved by the Bank’s Council on July 16, 2024.

In December 2024, during a meeting of the Supreme Eurasian Economic Council in Saint Petersburg, President Mirziyoyev announced Uzbekistan’s intention to complete all necessary procedures and join the EDB in early 2025.

The law was passed by the Legislative Chamber of the Oliy Majlis in January, and approved by the Senate in March 2025.Начало формыКонец формы

The Eurasian Development Bank is an international financial institution investing in Eurasia.  For more than eighteen years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries.  Current member nations of the EDB are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

By 2025, EDB’s cumulative project portfolio includes 305 projects totaling US$16.5 billion USD.  Most of the EDB’s portfolio consists of projects with integration effects in transport infrastructure, digital systems, green energy, agriculture, industry, and engineering. The Bank operates in line with the UN Sustainable Development Goals (SDGs) and ESG principles.

The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.  The Eurasian Development Bank has observer status in the UN General Assembly.