The documents were signed on the sidelines of the 11th Annual Meeting of the AIIB in Doha.

The updated program includes infrastructure projects worth up to $5 billion, which AIIB may finance in Uzbekistan between 2026 and 2029. The program identifies priority areas where the two sides plan to develop cooperation in the coming years.

The documents were signed by Konstantin Limitovsky, AIIB’s Head of the Investment Banking Department for the Public Sector, Region 2, and Global Clients Project and Corporate Finance, and Shokhrukh Gulamov, Deputy Minister of Investment, Industry and Trade of Uzbekistan.

The signing ceremony was attended by Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan and Uzbekistan’s Governor on the AIIB Board.

Under the second agreement, AIIB will provide a $1.5 million grant to prepare the project “Improving the Resilience of Uzbekistan’s Electricity Transmission System.”

The funds will be used for technical studies and other preparatory work. The results will form the basis for a future investment project aimed at increasing the capacity of Uzbekistan’s electricity networks and making them more reliable and resilient to climate change.

The project will focus on priority parts of the country’s electricity network, including the southern corridor between Surkhandarya and Samarkand regions and the Fergana Valley.

The project will also help assess investment needs and climate risks, improve technical solutions, expand opportunities to connect renewable energy sources, and prepare the project for possible future financing.

By 2030, Uzbekistan plans to increase the share of renewable energy in electricity production from around 30% to 54%. Achieving this goal will require significant modernization and expansion of the country’s electricity transmission networks.

Both agreements are based on the growing partnership between AIIB and Uzbekistan in infrastructure. They provide a foundation for further cooperation in preparing and financing sustainable infrastructure projects that support the country’s development priorities.