The Eurasian Development Bank (EDB) has officially opened its representative office in the Republic of Uzbekistan. The opening ceremony took place during the "EDB Day" event in Tashkent.
The launch of the representative office follows Uzbekistan’s accession to the EDB in 2025. With all administrative and legal procedures now completed with the support of the Government of Uzbekistan, the Bank is starting its full-scale investment operations in the country.
Jamshid Khodjaev, Deputy Prime Minister of the Republic of Uzbekistan, delivered the welcoming remarks. He congratulated the Bank on its 20th anniversary and noted that opening a local office is a major milestone in strengthening their partnership. He emphasized that the EDB brings extensive experience in infrastructure financing, export support, financial market development, and digital transformation—the very drivers shaping the economic agenda of the "New Uzbekistan." He added that the Bank's permanent presence in Tashkent will accelerate joint projects in mining, transport infrastructure, digital technology, and water management.
Nikolai Podguzov, Chairman of the EDB Management Board, stated:
"In the year of the EDB’s 20th anniversary, we are launching operations in Uzbekistan, one of the most dynamic economies in the region. Over two decades, the Bank has built up unique experience and expertise. Our cumulative portfolio has reached $19.6 billion, spanning 326 completed projects. We are now ready to extend these resources to Uzbekistan. For the upcoming strategic cycle, the EDB plans to invest up to $1.5 billion in Uzbekistan by 2031, which includes roughly $800 million for projects with high regional integration potential. We possess all the essential tools to make this happen: our Technical Assistance Fund, the Digital Initiatives Fund, deep project expertise, and direct access to capital from the Gulf states and Asia."
According to Podguzov, the current project pipeline spans energy, logistics, and manufacturing, fully aligning with the Bank's core strategy. The Bank is already developing several initiatives and signed its initial agreements during the opening ceremony. Specific details regarding these signed documents will be disclosed in upcoming press releases.
As part of the events celebrating the launch of the EDB representative office in Tashkent, the EDB Academy hosted a series of educational workshops.
Educational initiatives are an integral part of operations for multilateral development banks (MDBs). According to an EDB report on MDB educational programs, development banks frequently establish their own academies, institutes, and knowledge platforms. These hubs serve to transfer expertise, disseminate best practices and standards among member states, and mitigate project risks. The EDB Academy operates on this very principle, providing systematic, long-term educational training.
Evgeny Vinokurov, Deputy Chairman of the Management Board and Chief Economist of the EDB, remarked:
"Our goal is to help journalists and the general public better understand how multilateral development banks operate, what financial mechanisms they offer, and how these capabilities can be leveraged to benefit Uzbekistan. The deeper the understanding, the more effective our dialogue will be—ultimately allowing us to deliver more high-quality projects together."
The opening of the EDB representative office in Tashkent will enable the bank to provide on-the-ground support for investment projects, strengthen partnerships with government agencies and the private sector, and more actively attract international investors to Uzbekistan’s economy.
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