TASHKENT, Uzbekistan, September 13. The Government of Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) convened a meeting to strengthen their strategic partnership, showcase deepening bilateral ties, highlight key implementation milestones, and identify new opportunities for cooperation, Trend reports.
In recent weeks, the partnership between AIIB and Uzbekistan has been strengthened through three major achievements: the launch of a $1-billion multi-phased program in the water sector, a $300-million initiative to modernize power transmission, and the approval of the Karakalpakstan and Khorezm Local Roads Network Reconstruction Project, with the first tranche of $71.1 million committed from a total $173.5-million multi-phased program. These projects operationalize the Multi-Year Rolling Investment Program (MYRP) signed in 2024.
Konstantin Limitovskiy, AIIB’s Chief Investment Officer for Region 2, underlined the importance of the partnership: “Uzbekistan is not only a founding member and valued shareholder but also one of AIIB’s key clients and a trusted partner. The strong commitment from leadership on both sides over the past decade has been truly inspiring. We are eager to broaden and deepen this partnership by advancing our plans in the water and electricity transmission sectors, further aligning our $4-billion country investment program with Uzbekistan’s national development priorities in fostering sustainable growth and regional development.”
Currently, AIIB’s portfolio in Uzbekistan stands at $3.7 billion, making the country the bank’s seventh-largest client globally. This portfolio covers critical infrastructure sectors, including transportation networks, renewable energy projects, urban development initiatives, and climate-focused policy-based financing.
Leveraging this foundational framework, both entities have reached a consensus to amplify their synergistic engagement into novel strategic domains. The MYRP’s dynamic execution paradigm guarantees that forthcoming initiatives are consistently synchronized with Uzbekistan’s overarching development objectives via systematic collaborative evaluations and strategic alignment.
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “Infrastructure for Tomorrow,” with sustainability at its core. Established in 2016, AIIB now has 110 approved members worldwide, a capital base of $100 billion, and holds an AAA rating from major international credit agencies. The Bank works with partners to mobilize capital and invest in infrastructure and other productive sectors that drive sustainable economic development and enhance regional connectivity.
