BAKU, Azerbaijan, January 26. In 2025, the Asian Development Bank (ADB), together with its government and private-sector partners in Uzbekistan, achieved historically significant commitments, Mirzo Iskandar Gulamov, Country Operations Head of ADB’s Uzbekistan Resident Mission, told Trend.
"These commitments enabled the timely implementation of the Country Partnership Strategy for 2024–2028 and allowed us to fully support the New Uzbekistan 2030 Strategy, with a focus on fiscal sustainability, state-owned enterprise transformation, private-sector growth, and the green transition," he said.
Gulamov recalled that under its policy-based engagement with the Government of Uzbekistan, ADB provided $800 million in long-term concessional financing to support reforms in public and economic management, as well as to expand access to finance for micro and small businesses.
"Our policy-based support was complemented by project financing aimed at infrastructure expansion and social development, including three sovereign loans and three partial credit guarantees totaling $556 million—the highest annual commitment to date," he noted.
According to him, 2025 also marked several first-of-their-kind initiatives, including the inaugural issuance of Uzbekistan sum-denominated bonds to support women-owned enterprises, the first application of credit guarantee mechanisms to de-risk private investment in the energy sector, and the first non-sovereign lending operation in the mortgage sector.
"Key infrastructure initiatives included the CAREC Road Corridor 2 Resilience and Modernization Project to enhance regional connectivity, as well as Climate-Smart Water Management Improvement Projects aimed at the digital transformation of the water supply sector and modernization of water resource management through smart technologies," Gulamov said.
He added that the STEM in Secondary Education Project further contributed to national development by equipping young people in Uzbekistan with innovation-driven skills essential for sustainable and inclusive growth.
Gulamov also noted that ADB catalyzed private-sector investment through six non-sovereign transactions worth $271 million, including major renewable energy projects such as Central Asia’s first wind power plant with a battery energy storage system and two large-scale solar photovoltaic plants in Samarkand.
"In addition, ADB facilitated $305 million in trade and supply-chain finance and issued its first Uzbekistan som-denominated bond, contributing to the development of local capital markets," he said.
He noted that these efforts were implemented within the framework of the 30th anniversary of the ADB–Uzbekistan partnership, marked by high-level visits and outreach events. Notably, ADB President Masato Kanda visited Uzbekistan and met with President Shavkat Mirziyoyev on November 18 to reaffirm the bank’s commitment to supporting Uzbekistan’s reform agenda.
"Taken together, these achievements strengthened our partnerships and laid a solid foundation for hosting ADB’s Annual Meeting in Samarkand in 2026," Gulamov concluded.
The CAREC Road Corridor 2 Resilience and Modernization Project in Uzbekistan, supported by the Asian Development Bank (ADB), aims to upgrade the A380 highway to enhance regional connectivity, reduce travel times, and improve climate resilience. Key developments include constructing a new bypass, reconstructing highway sections with climate-resilient features, and implementing Intelligent Transport Systems (ITS).
The project seeks to strengthen Uzbekistan's role as a transit hub and promote economic growth while addressing climate change and gender equality. It plays a vital role in enhancing Central Asia's connectivity to global markets and supporting inclusive growth, particularly in Karakalpakstan.