Tashkent, Uzbekistan (UzDaily.uz) — The National Bank of Foreign Economic Activity of Uzbekistan (UzNatsBank or NBU) and China’s Silk Road Fund have signed an agreement to finance major infrastructure projects in Uzbekistan for a total amount of up to US$395 million.
The document was signed during a visit by an Uzbek delegation led by Prime Minister Abdulla Aripov to the Hong Kong Special Administrative Region of China.
The agreement was concluded on the sidelines of the 11th Belt and Road Summit, held in Hong Kong on 9–10 September. The event provided a platform for discussing new areas of investment and financial cooperation.
Under the agreement, UzNatsBank and the Silk Road Fund will jointly select, assess and structure prospective infrastructure projects for subsequent financing through the fund’s long-term credit lines.
Priority is expected to be given to the modernisation of transport infrastructure, including the construction of modern toll expressways.
The agreements are aligned with the objectives of Uzbekistan’s 2026 state investment programme. The programme provides for UzNatsBank to attract up to US$1.5 billion in resources from international financial institutions to implement priority projects in Uzbekistan.
The bank said the agreement represents another practical result of expanding financial and investment cooperation between Uzbekistan and China. It is aimed at developing the Uzbek-Chinese all-weather comprehensive strategic partnership, including within the Belt and Road Initiative.
UzNatsBank was established in 1991 and is among Uzbekistan’s largest systemically important banks. At the end of 2025, the bank’s assets exceeded US$12 billion, its loan portfolio stood at US$9 billion, total capital exceeded US$1.6 billion, and net profit reached US$160 million.
The Silk Road Fund is a Chinese state investment fund established in 2014 to support investment projects under the Belt and Road Initiative.
