Today, the increasing infrastructure needs and economic development goals of states are leading them to seek various financing options. Global economic uncertainties, in particular, make this search even more apparent. In this context, not only traditional financing companies but also alternative financing mechanisms are gaining importance. One such institution, the New Development Bank (NDB), accepted Uzbekistan as a member on June 5, 2026.[i]
This development plays a significant role in Uzbekistan’s process of diversifying its external economic partnerships. Uzbekistan has become the bank’s “first Central Asian member.” This situation could have consequences not only for Uzbekistan but also at the regional level. In this context, it is important to evaluate the financing opportunities and economic collaborations that Uzbekistan will gain through membership in terms of Central Asia’s global development perspective.
Uzbekistan’s membership in the NDB aims to strengthen the country’s financial infrastructure and enable it to play a more active role in sustainable development projects. Regarding this, NDB President Dilma Rousseff stated that the NDB will provide support to Uzbekistan in the areas of clean energy, water resource management, and transportation infrastructure.[ii] However, Uzbekistan’s membership is largely aligned with the country’s long-term development goals and its ambition to diversify its economic partnerships at the international level, rather than being driven by geopolitical concerns.
At the Tashkent International Investment Forum held in Tashkent on June 18, 2026, Dilma Rousseff proposed the preparation of a comprehensive and medium-term project portfolio of joint investment projects to identify areas of cooperation with Uzbekistan and develop concrete projects. The parties agreed to assign NDB expert missions to prepare this portfolio.[iii] In line with Uzbekistan’s membership in the NDB, the preparation of concrete economic development projects and portfolios is expected.
Central Asia has become more visible on the international stage in recent years in terms of global trade, investment, energy, and supply chain security. Speaking at the opening of the Tashkent International Investment Forum, President Shavkat Mirziyoyev emphasized Uzbekistan’s goal of becoming a leading economic hub and also stated its aim to strengthen Central Asia’s position in the international economic system.
Today, Central Asia is not only a transit corridor but is also achieving great success in the fields of renewable energy, logistics, and regional integration.[iv] However, a lack of infrastructure financing is preventing the region from realizing this potential through concrete projects. The primary reason for this is that Central Asia consists of countries with the lowest rates of economic integration. Furthermore, due to the region’s high vulnerability to climate change, there is a need for $492 billion in annual infrastructure investment until 2030. Therefore, Central Asia remains dependent on international financial institutions, including the Asian Development Bank (ADB), the World Bank, the Islamic Development Bank, and the European Bank for Reconstruction and Development (EBRD), for infrastructure financing.[v]
Therefore, Uzbekistan’s membership in the NDB is a major step taken to redefine the role of Central Asia in the global economy and ensure the integration of the region with international development financing networks, as emphasized by President Shavkat Mirziyoyev. Considering Central Asia’s lack of infrastructure financing as well as investment needs in energy and transportation, Uzbekistan’s NDB membership offers new opportunities for regional development projects.
This membership is also significant at the regional level given Central Asia’s high vulnerability to climate change. In particular, the region’s growing population, economic growth, and climate change are creating challenges in terms of water management, as well as affecting the region’s social stability and sustainable development performance.[vi] Indeed, the NDB’s priority activities include water management, clean energy, environmental protection, and transport infrastructure.[vii] In this context, Uzbekistan’s membership could make significant long-term contributions, not only in addressing existing funding gaps but also in ensuring the region is more resilient and prepared for climate change.
Uzbekistan’s membership in the NDB can also be viewed in terms of diversifying its financing sources. Besides the NDB, Uzbekistan also cooperates with international financial institutions such as the World Bank, the European Financial Center (EFC), and the European Bank for Reconstruction and Development (EBRD). Therefore, NDB membership is an indicator of Uzbekistan’s foreign policy diversification and economic multilateralism strategies. Consequently, Uzbekistan’s strategy is aimed at expanding the country’s economic options and international financing sources, rather than replacing or changing its existing collaborations with these institutions.[viii] Indeed, this membership is seen less as a shift in Uzbekistan’s geopolitical alignment and more as an extension of the country’s multifaceted foreign policy. When considered at the regional level, membership allows Central Asian countries greater access to international financial institutions. It also has the potential to attract investment to the region and increase its international visibility.
In conclusion, Uzbekistan’s accession to the NDB offers the country the opportunity to both strengthen its infrastructure and participate in sustainable development projects. From a broader perspective, this membership aligns with the country’s goals of diversifying its economic partnerships and becoming one of Central Asia’s economic hubs. The regional impacts of membership include increasing Central Asia’s economic recognition and showcasing the region’s economic potential. This development is considered a significant opportunity to address the financing gap in the region and the potential shortcomings arising from climate change. In this context, Uzbekistan’s NDB membership has high potential to create positive outcomes both nationally and regionally. The extent to which these outcomes will be realized and the impact of membership will become more visible depends on the implementation of the planned projects.
[i] “Uzbekistan Officially Joins New Development Bank as New Member Country”, New Development Bank, https://www.ndb.int/news/uzbekistan-officially-joins-new-development-bank-as-new-member-country/, (Date of Access: 24.06.2026).
[ii] “Uzbekistan joins New Development Bank”, BRICS+ new economy & legal infrastructure center, https://neweconomy.expert/news/264281/, (Date of Access: 24.06.2026).
[iii] “Uzbekistan maps out infrastructure portfolio with New Development Bank following official accession”, Kun.uz, https://kun.uz/en/news/2026/06/19/uzbekistan-maps-out-infrastructure-portfolio-with-new-development-bank-following-official-accession-a760e9, (Date of Access: 24.06.2026).
[iv] “Can Uzbekistan turn Central Asia into the world’s next economic frontier?”, ahramonline, https://english.ahram.org.eg/NewsContent/3/15/571221/Business/Region/Can-Uzbekistan-turn-Central-Asia-into-the-world’s-.aspx, (Date of Access: 24.06.2026).
[v]“Financing Infrastructure in Central Asia”, ResearchGate, https://www.researchgate.net/publication/364554231_Financing_Infrastructure_in_Central_Asia, (Date of Access: 24.06.2026).
[vi] Ibid.
[vii] “Focus Areas”, New Development Bank, https://www.ndb.int/about-ndb/focus-areas/, (Date of Access: 24.06.2026).
[viii] “BRICS+: Uzbekistan Joining the NDB”, infobrics, https://infobrics.org/en/post/99881/, (Date of Access: 24.06.2026).
