Uzbekistan Officially Joins the BRICS New Development Bank

JAKARTA - President of Uzbekistan Shavkat Mirziyoyev has signed a law on the country joining the New Development Bank (NDB) of BRICS, according to documents.

"Joining the agreement on the New Development Bank (Fortaleza, July 2, 2014)," reads a document published on the national legislation database website, reported by ANTARA from Sputnik, Friday, May 22.

Fortaleza referred to the name of the agreement that became the basis for the formation of the NDB.

In April, the lower house of the Uzbek parliament adopted a law on accession to the NDB, and the senate approved it last Tuesday (19/5).

The lower house previously stated that by joining the NDB, Uzbekistan would provide alternative and preferential investment flows to modernize the national economy.

The Ministry of Investment, Industry, and Trade of Uzbekistan said the government had prepared a portfolio of projects worth 4.5 billion US dollars (around Rp79.7 trillion) for the NDB.

The main sectors of the project include transportation, energy, construction, and industry. In particular, the funds are expected to be raised for a nuclear power plant (PLTN) project currently being built in the country.

Uzbekistan became a BRICS partner country since January 1, 2025. In June 2025, the press office of the Ukrainian Presidential Office reported that the NDB Board of Governors had approved the principle for the country to join the bloc's development bank.