BRICS bank intends to begin analyzing first projects for Uzbekistan by end of year

TASHKENT. June 10 (Interfax) - The New Development Bank (NDB) plans to begin exploring the first joint projects with Uzbekistan by the end of 2026, Andrei Bokarev, General Director of the NDB's Eurasian Regional Center, said in an interview with BRICS TV.

Uzdaily quoted Bokarev as saying that the country has officially become a shareholder in the bank, having completed all necessary procedures. The republic has become the bank's tenth member and the first Central Asian country to join the organization.

Bokarev clarified that the bank will begin exploring cooperation opportunities with Uzbekistan and preparing the first joint projects this year. Priority areas include energy, water resource management, transport, utilities, and social infrastructure.

Bokarev said the bank plans actively to utilize its key support instruments, including expanding financing in national currencies, implementing national procurement procedures and environmental risk assessment mechanisms, and accelerating project preparation and implementation.

Bokarev added that Central Asia is one of the most dynamically developing regions in the world, and that Uzbekistan's economy grew by an average of more than 6.7% annually from 2023 to 2025.

The NDB was established by BRICS member countries in July 2014.

The bank's primary objective is to finance infrastructure and sustainable development projects. The bank's governance structure consists of a three-tiered system: the board of governors, the board of directors, and the president.

The bank's shareholders are Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Bangladesh, Algeria, and Uzbekistan.

Uzbek President Shavkat Mirziyoyev on May 21, 2026, signed the law on Uzbekistan's accession to the NDB.