Uzbekistan joins EDB as 7th member state

ArmInfo. Tashkent, April 10, 2025. President of the Republic of Uzbekistan Shavkat Mirziyoyev has signed a law on Uzbekistan's accession to the Agreement Establishing the Eurasian Development Bank (EADB). Uzbekistan will become the seventh member of the Bank and the third largest shareholder with a 10% equity stake. The adoption of the law ensures the country's right  to full and effective participation in the Bank's activities.

"We welcome Uzbekistan's decision to become a member state of the  Eurasian Development Bank. This partnership opens up great  opportunities for the economic development of both Uzbekistan and the  entire region. The EDB will support Uzbekistan in its commitment to  grow sustainably and quickly, and to improve the well-being of its  citizens. The Bank has already started working on investment projects  in the Republic, intending to finance the first of them this year.  With each new project and each new participant, we continue to  fulfill our mission, thus contributing to the sustainable development  of the Eurasian region," said Nikolai Podguzov, Chairman of the  Management Board of the Eurasian Development Bank. 

Uzbekistan's accession will create new opportunities for the Republic  to modernize its transport infrastructure, energy complex and water  sector, and will accelerate its industrial and agricultural  development. The expansion of the Bank's membership also brings  advantages for its current member countries, including the expansion  of industrial cooperation, the development of trade relations and the  solution of food security issues.

The decision to admit the Republic of Uzbekistan to the EDB was  approved by the Bank's Council on July 16, 2024. During the Supreme  Eurasian Economic Council meeting held in December 2024 in St.   Petersburg, President Shavkat Mirziyoyev announced Uzbekistan's  intention to complete all necessary procedures and join the EDB in  early 2025. In January 2025, the law was adopted by the Legislative  Chamber of the Oliy Majlis, with its subsequent approval by the  Senate of the Republic in March.

Additional Information:

The Eurasian Development Bank (EDB) is a multilateral development  bank investing in Eurasia. For more than 18 years, the Bank has  worked to strengthen and expand economic ties and foster  comprehensive development in its member countries. By 2025, the EDB's  cumulative portfolio comprised 305 projects with a total investment  of US $16.5 billion. The Bank's portfolio consists principally of  projects with an integration effect in transport infrastructure,  digital systems, green energy, agriculture, manufacturing, and  mechanical engineering. The Bank's operations are guided by the UN  Sustainable Development Goals and ESG principles.