The Asian Infrastructure Investment Bank (AIIB) further solidified its long-standing partnership with the Republic of Uzbekistan through a series of agreements signed in Samarkand, Uzbekistan, at the Bank’s 9th Annual Meeting, its first in Central Asia.

The agreements follow the signing of a three-year rolling pipeline for sovereign-backed financed projects by Uzbekistan President Shavkat Mirziyoyev and AIIB President Jin Liqun in Beijing. This strategic partnership established a solid foundation for the current agreements, aimed at supporting Uzbekistan’s sustainable development goals.

At the Annual Meeting, the Bank and the Swiss State Secretariat for Economic Affairs (SECO) signed an agreement for a USD8.8 million contribution to support the Karakalpakstan and Khorezm Water Supply and Sanitation Project. This critical initiative aims to improve water resource management, sanitation services and flood risk management in some of Uzbekistan’s most water-stressed regions. The project aligns with AIIB’s green infrastructure and technology-enabled Infrastructure thematic priorities and is a key step in advancing Uzbekistan’s long-term goals for climate resilience and water security.

Following this, AIIB signed a pivotal loan agreement with Asakabank, marking AIIB’s inaugural partnership with the financial institution. The RMB-denominated loan will expand Asakabank’s portfolio in renewable energy and energy efficiency and provide much-needed financial support for green investments. This agreement is a critical part of Uzbekistan’s energy transition strategy and highlights AIIB’s role in fostering climate-resilient infrastructure development across Central Asia.

Building on this momentum, AIIB signed a mandate letter with SQB (formerly Sanoat Qurilish Bank) to promote sustainable energy projects. This partnership will provide longer-tenor funding than typically available in the market, equipping SQB to finance renewable energy projects and furthering AIIB’s contribution to Uzbekistan’s clean energy goals. The agreement strengthens the relationship that began with the signing of a letter of intent in January 2024.

Finally, AIIB signed a grant agreement to expand and modernize the country’s public education infrastructure, which marked AIIB’s first project in Uzbekistan’s education sector. This project addresses the pressing need for additional classroom capacity and focuses on building new schools, renovating existing ones and introducing modern educational tools and technology. This initiative has special emphasis on gender inclusion, digital technology and climate resilience, and will ensure that Uzbekistan’s youth are well-equipped to meet the demands of the future.

“The three-year rolling pipeline agreement between President Mirziyoyev and President Jin established a strategic framework for aligning Uzbekistan’s development goals with AIIB’s expertise and resources,” said Konstantin Limitovskiy, AIIB Vice President for Investment Clients Region 2 and Project and Corporate Finance, Global. “The agreements signed during the Annual Meeting further underscore AIIB’s commitment to advancing impactful, long-term projects that foster prosperity, resilience and sustainable growth in Uzbekistan.”

“The Asian Infrastructure Investment Bank has been a long-standing partner of Uzbekistan, supporting our country in its pursuit of sustainable infrastructure and investment development, improving living conditions for people, and achieving the goals of the Strategy 2030,” said Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry, and Trade and Governor for Uzbekistan at the AIIB. “The signing of the grant agreement for the project on the modernization and expansion of school infrastructure is another significant step on this path, supported by AIIB and our other partners.”

AIIB’s continued investments in green infrastructure, renewable energy, education and water management demonstrate the Bank’s commitment to supporting Uzbekistan’s Sustainable Development Strategy: Vision 2030, which aims to alleviate poverty, promote inclusive growth and enhance resilience to global challenges. As AIIB and Uzbekistan continue to deepen their cooperation, these projects will serve as key drivers of the nation’s green transformation, promoting economic resilience and improving the quality of life for its citizens.