The EBRD has opened an office in Tashkent and is ready to invest up to $1.5 billion in Uzbekistan

The Eurasian Development Bank has officially opened its representative office in Uzbekistan and announced plans to invest up to $1.5 billion in the country’s economy by 2031, according toGazeta.uz.

The official opening ceremony took place on May 18 in Tashkent. The bank noted that the opening of the representative office was the next step following Uzbekistan’s accession to the EDB in 2025.

Uzbekistan’s Deputy Prime Minister Jamshid Khojaev stated that the bank’s permanent presence in Tashkent will help accelerate the implementation of joint projects in the mining sector, transportation infrastructure, digital technologies, and water management.

EDB Board Chairman Nikolay Podguzov announced that the bank plans to allocate up to $1.5 billion in investments to Uzbekistan for the new strategic cycle. Of this amount, approximately $800 million will be allocated to projects with high integration potential.

According to him, the current project portfolio already includes energy, logistics, and industry.

The bank also signed its first agreements at the ceremony. One of them was a $70 million loan agreement with the fintech company Uzum. The company plans to use the funds to develop digital financial services, including digital payments and consumer finance.

The EDB emphasized that opening an office in Tashkent will allow the bank to more efficiently support investment projects, interact with government agencies and businesses, and attract international investors to Uzbekistan’s economy.

The EDB was established in 2006 by Russia and Kazakhstan to finance integration and infrastructure projects in Eurasia. In addition to these countries, the bank’s members include Kyrgyzstan, Belarus, Armenia, Tajikistan, and Uzbekistan. The financial institution’s headquarters are located in Almaty.