Uzbekistan Expected To Join BRICS New Development Bank

The board of governors of the BRICS New Development Bank (NDB) has given its consent in principle for Uzbekistan to join the bank, according to Uzbekistan’s presidential press service. Uzbek President Shavkat Mirziyoyev and BRICS New Development Bank Governor Dilma Rousseff have discussed developing collaboration and the prospects for Uzbekistan to join the NDB.

Uzbekistan’s press service said that the parties noted consistently implementing the agreements reached on the sidelines of the BRICS summit in October last year. “The bank’s board of governors has given its consent in principle for Uzbekistan to join the countries participating in the New Development Bank. A program of priority joint projects totaling US$5 billion has been formed.”

Mirziyoyev stressed the importance of speedily preparing and implementing projects in such priority Uzbeki projects as modernizing irrigation systems, developing the mining industry, financing the private sector, and promoting public-private partnership projects in education and infrastructure. Support was further expressed to implement large regional infrastructure projects.

Uzbekistan became a BRICS partner nation on January 1st this year but is not a full member.