Uzbekistan Joins BRICS Development Bank

The Board of Governors of the BRICS New Development Bank has approved Uzbekistan’s accession to the international financial institution, according to the press service of President Shavkat Mirziyoyev.

Ahead of the Tashkent International Investment Forum, President Mirziyoyev held talks with Dilma Rousseff, President of the BRICS Bank. They discussed future cooperation between the bank and Uzbekistan.

The financial institution has prepared joint projects worth $5 bn, focusing on irrigation, private sector development and other key areas.

Established in 2014, the BRICS New Development Bank was founded by Brazil, Russia and other member states. Headquartered in Shanghai, the bank supports infrastructure initiatives around the world and has approved over 120 projects totalling $40 bn.

Earlier, Kursiv Uzbekistan reported that Kazakhstan does not currently plan to apply for BRICS membership.