Uzbekistan's Senate approves country's accession to Eurasian Development Bank
The move is aimed at promoting economic growth and strengthening trade and economic ties between the member states through investment activities
The Senate of Uzbekistan's Oliy Majlis has approved the law on the country's accession to the Eurasian Development Bank (EDB), as reported by Eurasia Today, a partner of TV BRICS.
Stanislav Pritchin, an expert at the Primakov National Research Institute of World Economy and International Relations of the Russian Academy of Sciences, said that joining the EDB is "a maximally positive political and economic step" because it broadens the bank's stability base and opens new opportunities for financing Uzbekistan's development.
After approval by the Senate, the law has been sent to Uzbekistan's President Shavkat Mirziyoyev for signature. It is expected that joining EDB will be an important factor for the implementation of large-scale initiatives and development strategies of the country.
The Eurasian Development Bank brings together Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan and provides financing through long-term loans and own funds. Uzbekistan's accession to the EDB will strengthen cooperation and contribute to further economic development of the region.
Photo: iStock
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