Uzbekistan joins Eurasian Development Bank as shareholder

Uzbekistan will purchase 777,777 shares of the Eurasian Development Bank, according to the Presidential Decree “On measures for the Republic of Uzbekistan to join the Eurasian Development Bank,” adopted on September 16.

Under the decree, the Ministry of Investments, Industry and Trade will acquire 777,777 shares of the bank, each with a nominal value of $1,000. Of these, 168,411 (21.7 percent) are paid-in shares, while 609,366 (78.3 percent) are callable shares.

The total contribution amounts to $168.411 million. The first $10 million must be paid by September 23, one week after the decree enters into force. The remaining $158.411 million will be paid in two installments of $79,205,500 in 2026 and 2027.

In April of this year, President Shavkat Mirziyoyev signed a law ratifying Uzbekistan’s accession to the Agreement on the Establishment of the Eurasian Development Bank. According to the law, the bank operates “on the basis of international treaties, international law, and the principles and norms of banking activity.”

The Eurasian Development Bank is an international financial institution aimed at stimulating economic growth in its member states, expanding trade and economic cooperation, and promoting Eurasian integration through investment.

The bank was founded in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Armenia and Tajikistan joined in 2009, Belarus in 2010, and Kyrgyzstan in 2011. The bank also has a branch in St. Petersburg and representative offices in Astana, Bishkek, Dushanbe, Yerevan, Minsk, and Moscow. Its authorized capital stands at $7 billion, of which $1.5 billion is paid-in capital and $5.5 billion is callable capital.