Tashkent, Uzbekistan (UzDaily.com) —  The Eurasian Development Bank (EDB) will soon open a representative office in Uzbekistan. This was announced by EDB Chairman of the Management Board Nikolay Podguzov during a meeting of the Bank's Council held in Astana under the chairmanship of Kazakhstan’s Prime Minister Olzhas Bektenov.

The meeting reviewed the EDB’s performance for 2024 and discussed current development issues. According to the report presented, the Bank’s total investment portfolio reached US$16.5 billion by the end of the year. Annual investments amounted to US$2.4 billion, which is nearly US$700 million more than the previous year. Notably, the share of projects contributing to the achievement of the Sustainable Development Goals (SDGs) exceeded 30% — twice the initially planned target.

Furthermore, in 2024, the Bank significantly expanded its technical assistance project portfolio, registering a 76% increase — the highest growth rate in its history.

A key milestone was the official accession of the Republic of Uzbekistan to the Agreement on the Establishment of the EDB. This development has opened new horizons for deepening financial and investment cooperation. In his address, Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov, confirmed the country’s keen interest in active collaboration with the EDB.

"The Eurasian Development Bank continues to strengthen its position as a leading development institution in the region. The Bank is now preparing to open an office in the city of Tashkent. This will enhance our ability to implement large-scale integration and infrastructure projects," stated Nikolay Podguzov.

The opening of the EDB’s office in Uzbekistan marks a significant step in strengthening economic integration and advancing joint initiatives across key sectors.

In April 2025, President of Uzbekistan Shavkat Mirziyoyev signed a law ratifying the country’s accession to the Agreement on the Establishment of the EDB.

The law was passed by the Legislative Chamber of the Oliy Majlis in January and approved by the Senate of Uzbekistan in March.

By becoming the seventh member of the EDB, Uzbekistan also becomes its third-largest shareholder, holding a 10% stake in the Bank’s capital.