The Government of the Republic of Uzbekistan and Asian Infrastructure Investment Bank (AIIB) held high-level talks to advance their strategic partnership, demonstrating deepening bilateral ties, marking key implementation milestones and identifying new avenues for cooperation.
The partnership between AIIB and Uzbekistan has been strengthened by three milestones in recent weeks: the launch of a USD1-billion multi-phased program in the water sector, a USD300-million power-transmission modernization initiative, and the approval of the Karakalpakstan and Khorezm Local Roads Network Reconstruction Project (with the first tranche of USD71.1 million committed out of a USD173.5-million multi-phased program). These achievements operationalize the Multi-Year Rolling Investment Program (MYRP) signed in 2024.
Konstantin Limitovskiy, AIIB’s Chief Investment Officer for Region 2, emphasized the significance of the partnership: “Uzbekistan stands not just as a founding member and valued shareholder but as one of AIIB’s key clients and a trusted partner. The strong commitment from leadership on both sides throughout the last 10 years has been inspiring. We are excited to broaden and deepen this partnership by strengthening our plans in water and electricity transmission sectors, further aligning our USD4-billion country investment program with Uzbekistan’s national development priorities in fostering sustainable growth and regional development.”
AIIB’s portfolio in Uzbekistan stands at USD3.7 billion, positioning the country as the Bank’s seventh-largest client globally. The portfolio spans critical infrastructure sectors, including transportation networks, renewable energy projects, urban-development initiatives and climate-focused policy-based financing.
Building on this foundation, both parties have agreed to expand their collaboration into new strategic areas. The MYRP’s adaptive implementation framework will ensure that future initiatives maintain strong alignment with Uzbekistan’s national development goals through regular joint reviews and strategic coordination.
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “Infrastructure for Tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
