The government of Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) have signed an updated long-term investment program for 2026–2029. The program provides for financing infrastructure projects in the country worth up to $5 billion. The documents were signed on September 28 in Doha on the sidelines of the AIIB's 11th annual meeting.
The agreement was signed on behalf of the bank by Konstantin Limitovskiy, AIIB's Director General for Region 2 Public Sector Investments and Project and Corporate Finance Clients. On behalf of Uzbekistan, the document was signed by Deputy Minister of Investments, Industry and Trade Shokhrukh Gulyamov. The ceremony was attended by the Minister of Investments, Industry and Trade and Uzbekistan's AIIB Governor, Laziz Kudratov.
The updated multi-year investment program outlines the parties' priority areas of cooperation for the coming years. According to it, the bank may finance infrastructure projects in Uzbekistan totaling up to $5 billion in 2026–2029. These funds are expected to be directed to transport, energy, water supply and other important sectors.
“As one of the founding members of the AIIB, Uzbekistan has always been a reliable and strong partner. The country's list of investment projects clearly reflects national priorities. The updated program defines the direction of our cooperation until 2029,” said Konstantin Limitovskiy. According to Laziz Kudratov, Uzbekistan is the AIIB's largest partner in the region. “Through the updated program, we hope to further strengthen our cooperation, attract more private investors and turn our joint plans into concrete projects faster,” the minister said.
In addition, the parties signed an agreement on a $1.5 million grant from the AIIB's Special Fund for Project Preparation. The funds will be directed to preparing the “Uzbekistan Electricity Transmission System Stability Improvement” project. They will be used for technical studies and other preliminary work that will form the basis of the future investment project.
The project envisages increasing the transmission capacity of power grids, enhancing reliability and ensuring resilience to climate risks, as well as expanding the possibilities for connecting renewable energy facilities to the grid. During the preparation phase, technical solutions will be refined, and the required investment volume and climate risks will be assessed. Special attention will be paid to priority sections of the power grids, including the southern corridor connecting Surkhandarya and Samarkand regions, as well as the Fergana Valley. It is planned to develop solutions to eliminate the weakest sections of the grids and ensure the growing volume of electricity generated from renewable sources.
By 2030, Uzbekistan plans to increase the share of renewable energy sources in electricity generation from approximately 30% to 54%. This will require modernization and expansion of the power grid infrastructure. The new investment program will serve these goals.
Source: www.gazeta.uz