BAKU, Azerbaijan, September 29. The Asian Infrastructure Investment Bank (AIIB) and Uzbekistan have updated their Multi-Year Rolling Pipeline (MYRP), setting out potential infrastructure investments of up to $5 billion for 2026–2029, during a meeting in Doha today.
The agreement was signed on the sidelines of AIIB’s 11th Annual Meeting in Doha, Qatar, according to AIIB.
The updated MYRP provides a framework for AIIB and Uzbekistan to advance cooperation across priority infrastructure sectors over the coming years.
The document was signed by AIIB Chief Investment Officer, Public Sector (Region 2) and Project and Corporate Finance Clients (Global), Konstantin Limitovskiy, and Uzbekistan’s Deputy Minister of Investment, Industry and Trade, Shohrukh Gulamov. The signing was witnessed by Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade and AIIB Governor for Uzbekistan.
“Uzbekistan is an important founding member of AIIB and a valued partner, with a strong pipeline of infrastructure investments in line with the country’s development priorities,” Limitovskiy said.
He added that the updated MYRP provides a framework for cooperation through 2029, while project preparation support would allow the sides to develop infrastructure projects from their early stages.
Kudratov said Uzbekistan is becoming a key hub for trade, energy and transport in Central Asia.
“It is no coincidence that we are AIIB's largest partner in Central Asia. With the updated program, we want to take this partnership even further, bring in more private investors and turn our shared plans into real projects faster,” he said.
Under a separate Project Preparation Special Fund (PPSF) agreement signed at the meeting, AIIB will provide a $1.5 million grant to support preparation of the proposed Uzbekistan Resilient Electricity Transmission Project.
The grant will finance technical studies and other preparatory work for a potential investment aimed at strengthening the capacity, reliability and climate resilience of Uzbekistan’s electricity transmission network.
The project preparation work will focus on priority areas of the transmission network, including the southern corridor between Surkhandarya and Samarkand and the Ferghana Valley. It will assess investment needs and climate risks, refine technical designs, support renewable energy integration and identify solutions to transmission bottlenecks.
Uzbekistan aims to increase the share of renewable energy in its power mix from around 30% to 54% by 2030, requiring modernization and expansion of its electricity transmission infrastructure.
