Eurasian Development Bank Opens Office in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The Eurasian Development Bank officially opened a representative office in Uzbekistan. The inauguration ceremony was held in Tashkent during the EDB Day event, marking the bank’s expanded presence in the country following Uzbekistan’s accession to the institution in 2025.

The opening of the office marks the next stage of the EDB’s institutional presence in Uzbekistan after the completion of all required procedures with government support. The bank is now commencing full-scale investment operations in the republic.

During the ceremony, Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev congratulated the EDB on its 20th anniversary and highlighted the importance of the new office for strengthening bilateral cooperation. He noted that the bank has extensive experience in infrastructure financing, export support, financial market development, and digital transformation, all of which align with Uzbekistan’s economic policy priorities.

According to Khodjaev, the bank’s permanent presence in Tashkent will help accelerate joint projects in sectors including mining, transport infrastructure, digital technologies, and water management.

EDB Chairman Nikolai Podguzov said the bank plans to invest up to US$1.5 billion in Uzbekistan’s economy by 2031. Of this amount, around US$800 million will be allocated to projects with a high integration effect.

He noted that the current portfolio and projects under consideration cover energy, logistics, and industry and correspond to the bank’s strategic priorities. Podguzov also said the EDB has already started preparing several projects and signed its first agreements following the opening of the office.

As part of the events in Tashkent, workshops organized by the EDB Academy were also held, focusing on experience sharing and improving competencies in project financing and the work of development institutions.

EDB Deputy Chairman and Chief Economist Evgeny Vinokurov stated that the bank’s activities are aimed at expanding understanding of how multilateral development banks operate and improving the effectiveness of joint projects.

The bank said the opening of the representative office will enable faster support for investment initiatives, strengthen cooperation with government agencies and businesses, and boost the attraction of international capital into Uzbekistan’s economy.