The Eurasian Development Bank (EDB) plans to expand its operational geography to 11 countries, including nations important for the investment agenda of Uzbekistan and the entire region.

This was announced by EDB Chairman Nikolai Podguzov on the sidelines of the bank's Annual Meeting and Business Forum in Almaty.

According to him, the EDB aims to become a full-fledged regional development bank, making it crucial to work not only with current members but also with neighboring countries.

"For this, participation in the investment agenda of all countries in the region is necessary. Therefore, neighboring countries: Kazakhstan, Russia, Uzbekistan, Kyrgyzstan, Armenia, Belarus — are very important for us to fully operate and develop economic ties in the region," Podguzov said.

The potential expansion geography includes Mongolia, Azerbaijan, Georgia, Turkey, Turkmenistan, as well as Gulf countries — Bahrain, Oman, Qatar, Saudi Arabia, and the UAE. However, according to the EDB head, not all 11 states will necessarily become bank shareholders.

"For the next strategic period, we have planned three new shareholders. But we may work on more dynamic expansion," he noted.

The bank chairman separately highlighted cooperation with Gulf countries. According to him, the investment agenda there is actively developing, and the region's interests may complement the tasks of Central Asian countries. He also emphasized that expansion should not weaken the role of existing bank members.

Uzbekistan joined the EDB in 2025, becoming the bank's seventh member state and one of its major shareholders.

Earlier, it was reported that the EDB intends to support projects in the field of artificial intelligence in Uzbekistan.

Source: podrobno.uz