The Asian Infrastructure Investment Bank (AIIB) and the Government of Uzbekistan today signed an update to their Multi-Year Rolling Pipeline (MYRP) and a Project Preparation Special Fund (PPSF) grant agreement on the sidelines of AIIB’s 11th Annual Meeting in Doha, Qatar.
The updated MYRP sets out a pipeline of potential infrastructure investments of up to USD5 billion for 2026–2029, providing a framework for AIIB and Uzbekistan to advance cooperation across priority infrastructure sectors over the coming years.
The updated MYRP and PPSF grant agreement were signed by Konstantin Limitovskiy, AIIB Chief Investment Officer, Public Sector (Region 2) & Project and Corporate Finance Clients (Global), and Shohrukh Gulamov, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan, with the signing witnessed by Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan and AIIB Governor for Uzbekistan.
“Uzbekistan is an important founding member of AIIB and a valued partner, with a strong pipeline of infrastructure investments in line with the country’s development priorities,” said Konstantin Limitovskiy. “The updated MYRP provides a forward-looking framework for our cooperation through 2029, while the project preparation support signed today demonstrates how we can work together from the earliest stages to develop high-quality and investment-ready infrastructure.”
“Uzbekistan today is one of the fastest-growing economies in Central Asia and is becoming a key hub for trade, energy and transport in the region,” said Laziz Kudratov. “It is no coincidence that we are AIIB's largest partner in Central Asia. With the updated program, we want to take this partnership even further, bring in more private investors and turn our shared plans into real projects faster.”
Under the PPSF agreement signed today, AIIB will provide a USD1.5 million PPSF grant to support preparation of the proposed Uzbekistan Resilient Electricity Transmission Project. The grant will finance technical studies and other upstream work to help prepare a potential investment aimed at strengthening the capacity, reliability and climate resilience of Uzbekistan’s electricity transmission network.
The work will help refine technical designs, assess investment needs and climate risks, strengthen renewable energy integration, and prepare the proposed project for appraisal and potential financing. The agreement will focus on priority areas of Uzbekistan’s transmission network, including the southern corridor between Surkhandarya and Samarkand and the Ferghana Valley and will help identify solutions to strengthen grid reliability and resilience, address transmission bottlenecks, and accommodate growing renewable generation.
Uzbekistan aims to increase renewable energy’s share of its power mix from around 30 percent to 54 percent by 2030, requiring significant modernization and expansion of its transmission infrastructure.
The MYRP and the PPSF agreements build on AIIB and Uzbekistan’s growing infrastructure partnership and provide a framework for continued cooperation on the preparation and financing of sustainable infrastructure investments aligned with Uzbekistan’s development priorities.
