Legislative Chamber Approves Uzbekistan’s Entry into the BRICS Financial Family

Economy

Uzbekistan has officially formalized its status within the BRICS framework. The Legislative Chamber of the Oliy Majlis has ratified the agreement for the republic to join the New Development Bank (NDB), granting Tashkent access to large-scale preferential investments.

Legislative Chamber Approves Uzbekistan’s Entry into the BRICS Financial Family
Lawmakers described the move as a "historic step" that serves as a logical extension of President Shavkat Mirziyoyev’s pragmatic investment policy. The primary objective of NDB membership is to secure "long-term" and low-cost financing to modernize the country’s critical infrastructure. A program of priority joint projects, valued at approximately $5 billion, has already been established.

Key areas of cooperation will include energy, transport, water management, and sustainable urban development. During a previous meeting with NDB President Dilma Rousseff, it was emphasized that the bank is prepared to support projects aimed at the technological renewal of Uzbekistan’s economy. Joining the NDB not only diversifies Uzbekistan’s sources of external funding but also strengthens the nation’s position as a key partner among emerging economies within the BRICS investment platform.

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