Uzbekistan and New Development Bank Agree on Strategic Partnership and Infrastructure Initiatives

Tashkent, Uzbekistan (UzDaily.com) — On the sidelines of the fifth Tashkent International Investment Forum (TMIF-2026), landmark negotiations took place, marking a new phase in the republic's integration into the global financial system.

Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khodjayev held a meeting with the President of the New Development Bank (NDB), Dilma Rousseff. The key highlight of the dialogue was the official announcement of the successful completion of all formal and legal procedures related to Uzbekistan’s full accession to the NDB—a multilateral financial institution established by the BRICS nations to support infrastructure and sustainable development programs in emerging markets.

The legal milestone in this process was achieved when the President of Uzbekistan signed the Law on the country's accession to the Agreement on the New Development Bank in May 2026. According to the approved parameters, Uzbekistan's share in the authorized capital of the financial institution is set at 0.23%, with a total subscribed capital amounting to $121.5 million. Jamshid Khodjayev emphasized that membership in the NDB, whose total portfolio currently spans 140 large-scale projects valued at $43.2 billion, opens a powerful alternative channel for Tashkent to attract long-term sovereign and private capital for projects of systemic importance.

During the meeting, the parties discussed in detail the practical frameworks of future strategic cooperation. A prospective initial portfolio of joint projects totaling $2.6 billion was compiled and brought forward for discussion. These funds are slated to be directed toward modernizing the water management sector, developing transport corridors, upgrading basic municipal infrastructure across the regions, and providing targeted financing to the private sector.

Special attention was paid to the possibility of the bank co-financing mega-projects of trans-border significance. In particular, the NDB’s participation is being considered for the construction of the Trans-Afghan Railway Corridor, which is designed to provide Central Asian states with a direct connection to South Asian seaports.

At the conclusion of the talks, the Uzbek side proposed securing Samarkand’s status as the host city for the Annual Meeting of the NDB Board of Governors in 2028, guaranteeing that this major BRICS-related summit will be organized at the highest international level. Jamshid Khodjayev expressed deep gratitude to Dilma Rousseff for her consistent personal support of Uzbekistan's application, concluding that Tashkent views the New Development Bank as a fundamental long-term partner in implementing a new generation of investment and technological programs.