Uzbekistan has officially joined the agreement on the New Development Bank (NDB). The corresponding law was signed by the President of the republic, Shavkat Mirziyoyev. The text of the law was
published on the portal of the National Centre for Legal Information of Uzbekistan.
At the end of April, the country’s Legislative Chamber adopted a resolution on the adoption of the law. On 19 May, it was approved by the Senate. Senators noted that the main objective of the agreement with the NDB is to expand trade, economic and investment ties among member states through investment activity.
“Membership in the New Development Bank expands our country’s opportunities to attract foreign investment and finance major infrastructure and sustainable development projects. In order to support public and private sector projects, the Bank uses modern financial instruments such as loans, guarantees and investments,” it was stated at the plenary session of the Senate, according to the
official website of the upper chamber of Uzbekistan’s parliament.
According to the senators, the adoption of the law will help Uzbekistan expand cooperation with international financial institutions, attract investment for the development of the country’s infrastructure and ensure sustainable economic growth.
Chairman of the NDB Board of Governors Anton Siluanov, at the annual meeting of the Bank’s Board of Governors held in Moscow in mid-May, named Uzbekistan among the countries whose accession was under consideration. The President of the Bank, Dilma Rousseff, in turn, stated that the Bank is beginning work on a new strategy for the next five years, with particular attention to expanding operational activities in the Bank’s new member countries.
At a meeting between Rousseff and Mirziyoyev in June 2025, a programme of priority joint projects worth US$5 billion was formed, according to the
website of the President of Uzbekistan. Areas of cooperation discussed included the modernisation of irrigation systems, the development of the mining industry, and public-private partnerships in the fields of education and infrastructure.
The New Development Bank was established in 2015 at the initiative of the BRICS countries – Brazil, Russia, India, China, and South Africa – with the aim of mobilising resources for infrastructure and sustainable development projects. To date, the NDB has approved 139 projects worth almost US$42 billion.