Uzbekistan, NDB's Rousseff Eye Deeper Investment Ties

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan's Deputy Prime Minister Jamshid Kuchkarov sat down with New Development Bank President Dilma Rousseff on Tuesday to map out the next phase of a financial partnership increasingly focused on energy and large-scale infrastructure.

The meeting, held June 17 in Tashkent, centered on the current state of cooperation between Uzbekistan and the NDB, along with concrete steps to deepen it. Both sides reviewed priority investment projects tied to sustainable economic growth, with particular emphasis on financing mechanisms for the energy and infrastructure sectors.

Discussions also covered ways to refine investment interaction frameworks and unlock additional capital for strategically significant initiatives — an agenda that reflects Uzbekistan's broader push to diversify its development financing beyond traditional bilateral channels.

The NDB, established by the BRICS nations in 2015, operates as a multilateral development institution channeling funds into infrastructure and sustainable development projects across emerging economies. Uzbekistan, while not a BRICS founding member, is among a growing list of countries that have sought closer ties with the Shanghai-headquartered bank as it expands its membership and project portfolio.

At the conclusion of talks, both parties confirmed mutual interest in strengthening the partnership and pledged to continue dialogue across key areas of cooperation — signaling that concrete project agreements could follow in the near term.

The meeting comes as Uzbekistan accelerates its economic reform agenda under President Shavkat Mirziyoyev, with the government actively courting multilateral lenders to fund an ambitious modernization drive spanning transport, energy grid upgrades, and industrial development.