Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan is focused on diversifying sources of long-term investments for the development of infrastructure, energy, and industry, as well as further expanding financing opportunities for its national economy.

During a recent plenary session, the Legislative Chamber of the Oliy Majlis reviewed the draft law “On Accession of the Republic of Uzbekistan to the Agreement on the Establishment of the Eurasian Development Bank,” aimed at implementing this key initiative.

The adoption of this law will create a legal framework for Uzbekistan to join another important international financial institution, enabling the country to take advantage of the opportunities offered by this structure to further develop its economy.

The main goal of the Eurasian Development Bank, with a charter capital of US$7 billion, is to finance investment projects in the member states. The bank intends to continue its investment activities in areas such as “green economy,” transport and logistics, alternative energy, digital transformation, and agriculture.

Since 2016, the bank has financed projects totaling US$15 billion. Notably, the bank has implemented a system of accounting in the national currencies of the participating countries.

The bill was approved by the deputies in the third reading.