Uzbekistan and ADB Seal $12.5 Bn Deal to Drive Economic Growth by 2030
President Shavkat Mirziyoyev hosted a high-level delegation from the Asian Development Bank (ADB) led by its president Masato Kanda in Samarkand. The primary focus of the meeting was the continued expansion of full-scale cooperation between the Central Asian republic and the prominent financial institution.
During the talks, Kanda expressed his sincere gratitude to the Uzbek government for its invaluable assistance in hosting the 59th annual meeting of the bank’s Board of Governors.
Kanda highlighted the exceptional level of mutual engagement between the two parties, noting that over the course of 30 years the ADB has evolved into a vital strategic partner for the nation.
A massive project portfolio
The scale of this collaboration is vast. The total portfolio of joint initiatives has now reached an impressive $16 bn, effectively cementing Uzbekistan’s status as one of the bank’s most significant partners in the entire region.
These comprehensive investments span a wide array of critical sectors. Current projects are driving advancements in transport, energy, water supply, agriculture and private sector development.
Looking ahead to 2030
A major portion of the meeting was dedicated to outlining the future. Special attention was directed towards the rollout of a further $12.5 bn worth of projects under a newly defined partnership framework set to run until 2030.
This forward-looking agenda targets several key priorities to boost the national economy and improve living standards. Future investments will focus heavily on supporting the mortgage market and local businesses, nurturing human capital, advancing digital transformation and modernising national infrastructure.
Following the productive discussions, representatives from both sides officially exchanged documentation to formally launch this ambitious new era of cooperative development.
