TASHKENT, Uzbekistan, January 21. Uzbekistan's Oliy Majlis (Parliament) approved a bill in its third reading to join the Eurasian Development Bank (EDB), Trend reports.
The bill was approved at a regular meeting of the Legislative Chamber of the Parliament of Uzbekistan, marking the country’s intention to become a member of EDB.
The move is part of Uzbekistan’s broader strategy to diversify long-term investment sources in key sectors such as infrastructure, energy, and industry while enhancing the financing opportunities necessary for the development of the national economy. By joining the EDB, Uzbekistan aims to tap into new avenues for funding large-scale projects and drive its economic growth forward.
The Eurasian Development Bank, with a charter capital of $7 billion, plays a crucial role in financing investment projects across its member states. It focuses on areas such as green economy, transport and logistics, alternative energy, digital transformation, and agriculture. Since its inception in 2016, the bank has allocated $15 billion in funding to various projects.
Additionally, the EDB has implemented a system for conducting transactions in the national currencies of its member countries, a move that further facilitates trade and investment in the region.
Earlier, the Chairman of the Management Board of the EDB, Nikolai Podguzov, said that the bank hopes Uzbekistan will officially join the bank in early 2025.