Uzbekistan joins New Development Bank as Central Asia's first representative

Moscow [Russia], June 16 (ANI): The Republic of Uzbekistan has officially become a shareholder of the New Development Bank (NDB), marking a significant milestone in its economic and financial integration with emerging global institutions.
The country's membership became effective on June 5, 2026, after it fulfilled all necessary requirements and ratified the NDB Articles of Agreement. The announcement was made by Andrey Bokarev, Director General of the NDB Eurasian Regional Centre, in an exclusive comment to TV BRICS.
Uzbekistan has now become the 10th member of the NDB and the first country from Central Asia to join the institution. Bokarev described Central Asia as one of the world's most dynamically developing regions, highlighting Uzbekistan's strong economic performance. Between 2023 and 2025, the country's economy recorded average annual growth of more than 6.7 per cent, while its population increased by over 1.5 million people.
According to Bokarev, the NDB is expected to begin exploring investment opportunities and preparing its first projects in Uzbekistan later this year. Key focus areas will include energy, water management, transport, municipal infrastructure and social infrastructure, as reported by TV BRICS.
"In developing cooperation with Uzbekistan, the NDB intends to make active use of its key strengths - steadily increasing financing in national currencies, the possibility of applying national procurement procedures and environmental risk assessment mechanisms, as well as efficiency in project preparation and implementation," said Andrey Bokarev.
Uzbek President Shavkat Mirziyoyev signed the law on the country's accession to the NDB Agreement on May 21. Lawmakers noted that the move is aimed at expanding trade, economic and investment cooperation among member states through enhanced investment activities.
Established in 2015 by the BRICS nations, the NDB has approved 139 projects worth nearly US $43 billion. Alongside founding members Brazil, Russia, India, China and South Africa, the bank's membership now includes Egypt, the UAE, Bangladesh, Algeria and Uzbekistan. (ANI)