Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov met with New Development Bank (NDB) President Dilma Rousseff on 12 September to discuss bilateral cooperation and prospects for expanding it.
The meeting focused on opportunities to finance priority projects in Uzbekistan, including in the energy and infrastructure sectors. The sides also discussed improving investment partnership mechanisms and implementing strategically important initiatives.
During the talks, the parties stressed the need to improve the effectiveness of existing cooperation, jointly prepare new projects and maintain regular dialogue on financial cooperation.
Following the meeting, Kuchkarov and Rousseff confirmed their readiness to develop mutually beneficial partnership, expand areas of cooperation and support projects aligned with Uzbekistan’s long-term economic development goals.
The New Development Bank is a multilateral financial institution established in 2015 by the BRICS countries. Its activities focus on financing infrastructure projects and sustainable development initiatives in developing and emerging-market countries.
In May 2026, President of Uzbekistan Shavkat Mirziyoyev signed a law on the country’s accession to the Agreement on the New Development Bank, adopted in 2014 in Fortaleza. The Legislative Chamber of the Oliy Majlis approved the document on 21 April, while the Senate approved it on 19 May 2026.
Accession to the agreement provides for expanded trade, economic and investment cooperation through joint projects and financial support mechanisms. Participation in the NDB also creates additional opportunities to attract investment and finance major infrastructure and sustainable development projects.
The bank uses various financial instruments to support the public and private sectors, including lending, guarantees and investment financing.
Uzbekistan has prepared proposals for a portfolio of more than 20 investment projects worth a total of US$4.5 billion as part of the process of joining the New Development Bank. Acting Deputy Minister of Investment, Industry and Trade Shokhrukh Gulyamov said this at a Senate meeting on 19 May.
