Uzbekistan to join Eurasian Development Bank

Uzbekistan is set to join the Eurasian Development Bank (EDB) after the Senate of the Oliy Majlis approved a draft law on the country’s accession. The decision was made today, March 18, during the Senate’s fifth plenary session.  

Lawmakers considered the bill titled "On the Accession of the Republic of Uzbekistan to the Agreement on the Establishment of the Eurasian Development Bank (Astana, January 12, 2006)."

“The primary objective of the agreement is to foster economic growth in member states through investment activities and to enhance trade and economic relations among them,” the report states.  

Under the agreement, the EDB will operate in accordance with international treaties, banking regulations, and its own charter, which is annexed to the agreement. The charter defines the bank’s objectives, functions, governance structure, authorized capital, and conditions for membership.  

Additionally, the EDB will collect, systematize, and analyze data on the economic and financial conditions of its member states, including their investment opportunities, monetary and credit policies, and banking regulations.  

The adoption of this law will establish a legal foundation for Uzbekistan’s membership in the EDB, granting the country full participation in the bank’s activities. It is expected to support economic growth, strengthen trade and investment ties, and contribute to regional integration in Eurasia.