The plenary session is chaired by the Chairman of the Senate of the Oliy Majlis, Tanzila Narbayeva. The discussion of issues at the plenary session can be directly monitored online through the Senate's YouTube channel.
The Senate considered the Law "On the accession of the Republic of Uzbekistan to the Agreement on the Establishment of the Eurasian Development Bank (Astana, January 12, 2006)."
The main purpose of the Agreement is to promote the economic growth of the participating countries and expand trade and economic ties between them through investment activities.
According to this document, it is stipulated that this bank will carry out its activities in accordance with international treaties, international law, generally recognized principles and norms of banking, and the bank's Charter is approved as an annex to this Agreement.
The Bank's Charter also defines the types of activities, goals and objectives, functions, benefits, the amount of the authorized capital and the terms of subscription to it, as well as the Bank's management procedures.
In addition, it is established that the Eurasian Development Bank collects, systematizes and analyzes information on the state of the economy and financial markets of the participating countries, their investment opportunities, monetary and currency relations, legislative norms in the field of banking and currency regulation.
The adoption of the law serves to create a legal basis for Uzbekistan's membership in the Eurasian Development Bank, to ensure its right to full and effective participation in its activities, as well as to promote the economic growth of the Bank's member states, expand trade and economic ties and develop integration processes in the Eurasian space through investment activities.
At the end of the discussion, the Law was approved by the senators.