Uzbekistan Joins the New Development Bank

Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev has signed a law on the accession of the Republic of Uzbekistan 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 2026, after which the Senate of the Oliy Majlis endorsed it on 19 May 2026.

The agreement is aimed at expanding trade, economic and investment cooperation among member states through the implementation of joint investment projects and financial support mechanisms.

Uzbekistan’s participation in the New Development Bank will expand opportunities to attract foreign investment and finance large-scale infrastructure projects, as well as initiatives in the field of sustainable development. The bank uses modern financial instruments to support both public and private sector projects, including lending, guarantees and investment financing.

The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) to mobilise resources for infrastructure projects and sustainable development projects in emerging markets and developing countries.

According to the information, membership in the bank is open to United Nations member states, both as borrowing and non-borrowing participants. Among new members and candidates mentioned are Bangladesh, the United Arab Emirates, Egypt, Algeria, as well as Uruguay, Uzbekistan, Colombia and Ethiopia, which were approved by the Board of Governors and will become members after submitting accession documents.