AIIB May Allocate Up to $5 Bln for Projects in Uzbekistan by 2029

The government of Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) signed an updated cooperation program for 2026-2029 with potential project financing of up to $5 billion. This was reported by the UzA news agency.

The signing took place on September 28 in Doha at the 11th annual meeting of the AIIB. The documents were signed by Deputy Minister of Investment, Industry and Trade of Uzbekistan Shokhrukh Gulyamov and Head of the Investment Block of the Bank Konstantin Limitovsky in the presence of the Head of the Ministry of Investment, Industry and Trade Laziz Kudratov.

In addition to the long-term program, the parties concluded a grant agreement for $1.5 million from the AIIB's Special Project Preparation Fund. The funds are intended for technical research and preparatory work on the project to improve the resilience of the republic's energy system.

As part of this initiative, work is planned to modernize power grids to increase their capacity and resilience to climate change. The focus will be on the Fergana Valley and the southern corridor between the Surkhandarya and Samarkand regions, as well as on connecting renewable energy capacities. By 2030, Uzbekistan intends to increase the share of "green" generation from approximately 30% to 54%.