Uzbekistan Officially Joins New Development Bank, Focusing on Infrastructure Projects
According to the International Desk of Webangah News Agency, Uzbekistan has officially joined the New Development Bank (NDB) as a shareholder, with the accession taking effect on June 5, 2026. This development makes Uzbekistan the tenth member of the international financial institution.
Andrei Bokarev, Director General of the Eurasian Regional Center of the NDB, announced that Uzbekistan’s membership followed the completion of necessary requirements and the ratification of the NDB’s founding agreement. Bokarev highlighted Uzbekistan’s significance as the first Central Asian representative in the NDB, a region noted for its dynamism and substantial economic growth in recent years.
He further elaborated that Uzbekistan’s economy experienced an average annual growth rate exceeding 6.7 percent between 2023 and 2025. During the same period, the country’s population increased by over 1.5 million people.
The NDB intends to commence the evaluation of cooperation opportunities and the preparation of its first projects in Uzbekistan starting this year. Key areas identified for future collaboration include energy, water resource management, transportation, urban infrastructure, and social infrastructure.
Bokarev stated that in its partnership with Uzbekistan, the NDB will leverage its core capacities, such as enhancing financing in national currencies, utilizing domestic procurement procedures, employing environmental risk assessment mechanisms, and expediting project preparation and execution.
The law ratifying Uzbekistan’s accession to the New Development Bank was signed by President Shavkat Mirziyoyev on May 21, 2026, and its text was published in the country’s National Legal Information Center database.
Uzbek senators have indicated that the primary objective of this agreement is to broaden trade, economic, and investment cooperation among member countries through the implementation of investment projects.
Established in 2015 on the initiative of the BRICS member states, the New Development Bank aims to finance infrastructure projects. To date, the bank has approved 139 projects valued at approximately $43 billion.
In addition to the founding members—Brazil, Russia, India, China, and South Africa—Egypt, the United Arab Emirates, Bangladesh, and Algeria have also joined the bank in recent years.
