Uzbekistan has officially become a member of the New Development Bank (NDB), opening new opportunities for investment and infrastructure project implementation.

According to the adopted law, the republic acceded to the agreement signed in Fortaleza on July 15, 2014. The bank's primary goal is to support economic growth of member countries by financing projects in transport, energy, and water supply.

NDB members include Brazil, Russia, India, China, and South Africa, as well as the UAE, Bangladesh, Egypt, and Algeria. Several countries, including Uruguay, Colombia, and Ethiopia, are in the process of joining.

The bank focuses on supporting the green economy, developing digital technologies and innovations, as well as reducing disaster risks and adapting to climate change.

Earlier, it was reported that the Eurasian Development Bank (EDB), which became a full member of the Council of Foreign Investors under the President of Uzbekistan, is preparing to take practical steps under its new status.

Source: podrobno.uz