AIIB and Uzbekistan sign an investment program worth up to $5 billion

The Asian Infrastructure Investment Bank (AIIB) and the Government of Uzbekistan have signed an updated Multi-Year Rolling Pipeline (MYRP) and a grant agreement under the Project Preparation Special Fund (PPSF). The documents were signed in Doha during AIIB’s 11th Annual Meeting.

Under the updated program, AIIB may finance infrastructure projects in Uzbekistan totaling up to $5 billion in 2026-2029. The document outlines the main areas of cooperation between the two sides for the coming years.

Under the second agreement, AIIB will provide a $1.5 million grant to prepare a project to strengthen the resilience of Uzbekistan’s power transmission system. The grant will fund technical studies and other preparatory work. Their findings will inform a future investment project to expand the country’s power grid capacity and improve its reliability and resilience to climate change.

The project is expected to upgrade the power grid, increase its transmission capacity, and strengthen its resilience to climate-related risks. Particular attention is expected to focus on specific sections of the network, including the southern corridor between Surkhandarya and Samarkand regions and the Fergana Valley. The preparatory studies are also expected to determine the required level of investment, assess climate risks, and identify opportunities to connect new renewable energy facilities.

The signed documents outline the main areas for continued cooperation with AIIB in preparing and financing infrastructure projects.

Aziza Alimova, UzA