BAKU, Azerbaijan, September 15. Uzbekistan’s National Bank for Foreign Economic Activity and the Silk Road Fund have signed an agreement to finance major infrastructure projects in Uzbekistan with funding of up to $395 million.
This was announced in a statement published by the Uzbekistan’s National Bank.
According to the bank, the agreement was signed on the sidelines of the 11th Belt and Road Summit, held in Hong Kong on September 9–10 during a high-level Uzbek delegation’s visit led by Prime Minister Abdulla Aripov.
"Under the agreement, the two sides will jointly identify, assess and structure infrastructure projects for potential financing through long-term credit lines from the Silk Road Fund. The financing will focus in particular on the modernization of Uzbekistan’s transport infrastructure, including the construction of modern toll expressways," National bank said in a statement.
The agreement is part of Uzbekistan’s broader efforts to attract long-term international financing for priority infrastructure projects and expand cooperation with Chinese financial institutions.
The deal is also aligned with Uzbekistan’s 2026 State Investment Program, under which the National Bank is expected to attract up to $1.5 billion from leading international financial institutions to support priority projects across the country.
The Silk Road Fund is a Chinese state-owned investment fund established to support infrastructure and other economic projects in countries participating in the Belt and Road Initiative.
The agreement with the fund marks another step in the expansion of financial and investment cooperation between Uzbekistan and China, particularly under the Belt and Road Initiative.
The sides will work together on the selection and preparation of projects, potentially creating a pipeline of infrastructure investments backed by long-term financing.
The focus on transport infrastructure comes as Uzbekistan seeks to upgrade connectivity, develop modern road infrastructure and attract private and international capital for large-scale infrastructure projects.
