Uzbekistan has prepared proposals for a portfolio of over 20 projects worth more than $4.5 billion as part of its accession process to the BRICS New Development Bank (NDB). This was announced on May 19 by Shokhrukh Gulomov, acting deputy minister of investments, industry and trade, during a Senate session.
According to him, in the context of global changes and imbalances, the effective use of the bank's financial resources is a key task for Uzbekistan. He stated that $2.8 billion is planned to be allocated to infrastructure projects, including transportation, mainly through public-private partnership projects such as railway and toll road construction.
In the energy sector, funds are expected to be directed to nuclear power plant projects. In urban development, NDB resources are planned to be attracted to finance the infrastructure of New Tashkent city. In the social sector—education and healthcare—projects worth approximately $450 million have been formulated.
Additionally, the possibility of attracting about $500 million in banking resources for commercial banks is being studied. Another $750 million is planned to be directed to industry, specifically to developing industrial and economic zones in the regions.
Gulomov outlined three mechanisms for working with the bank: sovereign financing (under state guarantees), non-sovereign financing (direct financing of the private sector), and financing based on public-private partnership principles. These mechanisms are regulated by a presidential decree dated February 11, 2025.
During the session, senators approved the law on Uzbekistan's accession to the agreement on the New Development Bank, established by BRICS countries. The bank finances infrastructure, green, digital, and socially significant projects.
It is worth recalling that in March 2025, the head of Uzatom, Azim Akhmedkhadjaev, stated that the cost of a small nuclear power plant in Uzbekistan would be less than $2 billion. In September last year, Uzbekistan and Russia signed documents changing the configuration of the nuclear plant to be built in the Farish district of Jizzakh region. In October, the director of the NPP construction directorate, Abdujamil Kalmuratov, announced that the small NPP project cost would not exceed $1 billion and would be financed from the state budget.
Source: www.gazeta.uz