Russian deputy PM Overchuk Highlights Uzbekistan’s Gains from Joining EDB

Russian Deputy Prime Minister Alexey Overchuk has welcomed Uzbekistan’s membership in the Eurasian Development Bank (EDB), according to Vedomosti. He stressed that the move holds significance not only for Uzbekistan itself but also for strengthening economic integration across the Eurasian region.

«Uzbekistan has one of the most dynamically developing economies in Central Asia. Its entry into the Eurasian Development Bank plays a vital role for both the country and the broader process of Eurasian economic integration,» said Overchuk.

He added that Uzbekistan’s membership opens the door to investment, which will help boost key sectors such as transport and logistics, water and energy infrastructure, industry, and agriculture.

Overchuk also emphasised that cooperation with the bank will bring new jobs to Uzbekistan, introduce advanced technologies, raise production standards, and ultimately increase incomes across the population.

The EDB’s Board of Directors approved Uzbekistan’s application in July 2024. At the Supreme Eurasian Economic Council meeting in Saint Petersburg in December, President Shavkat Mirziyoyev reaffirmed the country’s commitment to completing all formalities and becoming a full member in early 2025.

Uzbekistan’s lower chamber of parliament passed the membership bill in January, followed by final approval in the Senate in March. President Mirziyoyev signed the legislation on 9 April.