The Asian Infrastructure Investment Bank (AIIB) further solidified its long-standing partnership with the Republic of Uzbekistan through a series of agreements signed in Samarkand, Uzbekistan, at the Bank’s 9th Annual Meeting, its first in Central Asia.
The agreements follow the signing of a three-year rolling pipeline for sovereign-backed financed projects by Uzbekistan President Shavkat Mirziyoyev and AIIB President Jin Liqun in Beijing. This strategic partnership established a solid foundation for the current agreements, aimed at supporting Uzbekistan’s sustainable development goals.
At the Annual Meeting, the Bank and the Swiss State Secretariat for Economic Affairs (SECO) signed an agreement for a USD8.8 million contribution to support the Karakalpakstan and Khorezm Water Supply and Sanitation Project. This critical initiative aims to improve water resource management, sanitation services and flood risk management in some of Uzbekistan’s most water-stressed regions. The project aligns with AIIB’s green infrastructure and technology-enabled Infrastructure thematic priorities and is a key step in advancing Uzbekistan’s long-term goals for climate resilience and water security.
Following this, AIIB signed a pivotal loan agreement with Asakabank, marking AIIB’s inaugural partnership with the financial institution. The RMB-denominated loan will expand Asakabank’s portfolio in renewable energy and energy efficiency and provide much-needed financial support for green investments. This agreement is a critical part of Uzbekistan’s energy transition strategy and highlights AIIB’s role in fostering climate-resilient infrastructure development across Central Asia.
Building on this momentum, AIIB signed a mandate letter with SQB (formerly Sanoat Qurilish Bank) to promote sustainable energy projects. This partnership will provide longer-tenor funding than typically available in the market, equipping SQB to finance renewable energy projects and furthering AIIB’s contribution to Uzbekistan’s clean energy goals. The agreement strengthens the relationship that began with the signing of a letter of intent in January 2024.