BAKU, Azerbaijan, January 26. In 2025, the
Asian Development Bank (ADB), together with its government and
private-sector partners in Uzbekistan, achieved historically
significant commitments, Mirzo Iskandar Gulamov, Country Operations
Head of ADB’s Uzbekistan Resident Mission, told Trend.
“These commitments enabled the timely implementation of the
Country Partnership Strategy for 2024–2028 and allowed us to fully
support the New Uzbekistan 2030 Strategy, with a focus on fiscal
sustainability, state-owned enterprise transformation,
private-sector growth, and the green transition,” he said.
Gulamov recalled that under its policy-based engagement with the
Government of Uzbekistan, ADB provided $800 million in long-term
concessional financing to support reforms in public and economic
management, as well as to expand access to finance for micro and
small businesses.
“Our policy-based support was complemented by project financing
aimed at infrastructure expansion and social development, including
three sovereign loans and three partial credit guarantees totaling
$556 million—the highest annual commitment to date,” he noted.
According to him, 2025 also marked several first-of-their-kind
initiatives, including the inaugural issuance of Uzbekistan
sum-denominated bonds to support women-owned enterprises, the first
application of credit guarantee mechanisms to de-risk private
investment in the energy sector, and the first non-sovereign
lending operation in the mortgage sector.
“Key infrastructure initiatives included the CAREC Road Corridor
2 Resilience and Modernization Project to enhance regional
connectivity, as well as Climate-Smart Water Management Improvement
Projects aimed at the digital transformation of the water supply
sector and modernization of water resource management through smart
technologies,” Gulamov said.
He added that the STEM in Secondary Education Project further
contributed to national development by equipping young people in
Uzbekistan with innovation-driven skills essential for sustainable
and inclusive growth.
Gulamov also noted that ADB catalyzed private-sector investment
through six non-sovereign transactions worth $271 million,
including major renewable energy projects such as Central Asia’s
first wind power plant with a battery energy storage system and two
large-scale solar photovoltaic plants in Samarkand.
“In addition, ADB facilitated $305 million in trade and
supply-chain finance and issued its first Uzbekistan
som-denominated bond, contributing to the development of local
capital markets,” he said.
He noted that these efforts were implemented within the
framework of the 30th anniversary of the ADB–Uzbekistan
partnership, marked by high-level visits and outreach events.
Notably, ADB President Masato Kanda visited Uzbekistan and met with
President Shavkat Mirziyoyev on November 18 to reaffirm the bank’s
commitment to supporting Uzbekistan’s reform agenda.
“Taken together, these achievements strengthened our
partnerships and laid a solid foundation for hosting ADB’s Annual
Meeting in Samarkand in 2026,” Gulamov concluded.
The CAREC Road Corridor 2 Resilience and Modernization Project
in Uzbekistan, supported by the Asian Development Bank (ADB), aims
to upgrade the A380 highway to enhance regional connectivity,
reduce travel times, and improve climate resilience. Key
developments include constructing a new bypass, reconstructing
highway sections with climate-resilient features, and implementing
Intelligent Transport Systems (ITS).
The project seeks to strengthen Uzbekistan’s role as a transit
hub and promote economic growth while addressing climate change and
gender equality. It plays a vital role in enhancing Central Asia’s
connectivity to global markets and supporting inclusive growth,
particularly in Karakalpakstan.
