Uzbekistan and EBRD Discuss Priority Projects and Private Sector Support for 2026

Tashkent, Uzbekistan (UzDaily.com) — Deputy Prime Minister of Uzbekistan Jamshid Khojaev held a meeting with a delegation from the European Bank for Reconstruction and Development, which included members of the bank’s Board of Directors and representatives of its office in Uzbekistan.

According to Khojaev, such meetings are aimed not at declarations but at achieving concrete results, allowing both sides to synchronize their work based on figures and the pace of project implementation.

The parties discussed the progress of reforms and priority areas of cooperation for 2026. The country’s economy continues to demonstrate stable growth: gross domestic product has reached US$145 billion, investments total US$43.1 billion, and the inflation rate stands at 7.3%.

The deputy prime minister noted that these indicators signal stability and predictability to investors and confirm the effectiveness of state institutions. The social impact has also been significant, with the poverty rate declining from 40% to 5.8%.

According to Khojaev, cooperation with the European Bank for Reconstruction and Development moved into a practical phase in 2025, with 85% of funds directed to the private sector. The bank’s annual operations in Uzbekistan exceeded US$1 billion, while its total investments in the country have reached nearly US$7 billion across more than 200 projects.

Priority areas for cooperation in 2026 include expanding direct support for the private sector through non-sovereign financing with a target volume of up to US$1 billion per year, developing regional programs such as Women in Business and Youth in Business, which combine financial products, training and networking, and promoting infrastructure projects in transport, green energy and water conservation.

Among the specific initiatives discussed were preparations to sign agreements for the procurement of electric buses in Nukus worth US$55 million and the digital transformation of Uzbekiston Temir Yullari valued at US$47 million. To ensure efficient implementation of projects, the sides agreed to establish a monthly exchange of data.

In addition, the EBRD delegation visited Samarkand, where they reviewed a depot as part of a US$62 million electric bus project. Recommendations are now expected on the project’s further development, including its operational model, charging infrastructure, maintenance services and staff training.