SAMARKAND, Uzbekistan, September 26. There is tremendous potential in infrastructure development and investment in Uzbekistan, said Konstantin Limitovskiy, AIIB Vice President for Investment Clients Region, at a public seminar "New Uzbekistan - Big Country with Big Opportunities" held at the Asian Infrastructure Investment Bank's (AIIB) annual meeting, Trend reports.
In his address, Limitovskiy highlighted AIIB’s active involvement in Uzbekistan’s infrastructure projects, with particular emphasis on smaller wind power initiatives, smart green transmission projects, and other renewable energy ventures. The AIIB has partnered with leading international firms, including ACWA Power, China Power, and Masdar, to drive these projects forward.
"Earlier this year, in close collaboration with the Ministry of Investment and Trade and other key infrastructure stakeholders, we developed a three-year program worth $2.6 billion covering 12 projects," Limitovskiy announced. "I met with the president, and just a few days ago, we renewed the program, reviewed it, and agreed to expand the total investment to exceed $4 billion for the coming year."
The expanded program aims to finance a wide range of sectors, including education, roads and highways, health services, renewable energy, urban infrastructure, and industrial water supply. The program’s scope reflects Uzbekistan’s ambitions to address its infrastructure gap and foster long-term sustainable growth.
Limitovskiy lauded Uzbekistan as a "success story" for investors, emphasizing the country's progress in attracting private sector interest. "So far, AIIB has raised over $11 billion from private sector investors for green infrastructure projects globally," he noted, adding that for every dollar invested by AIIB, an additional 20 cents of private capital is mobilized.
Looking ahead, Limitovskiy expressed confidence that AIIB, in partnership with private investors and development organizations, can further increase its contributions to tackling infrastructure challenges in Uzbekistan and the broader region. "If we are serious about addressing climate change and the infrastructure gap in this beautiful region, we can ensure that our investments continue to grow," he said.