The European Bank for Reconstruction and Development is ramping up its financial commitment to Uzbekistan, announcing €1.1 billion in new investments for 2025. This fresh capital injection marks a significant expansion of the bank’s already substantial presence in the country, where its total project portfolio has surpassed €5.5 billion since partnerships began.
Private sector and infrastructure take center stage
The lion’s share of the new financing will flow directly into the private sector, with particular emphasis on small and medium-sized enterprises (SMEs), women-led startups, and companies developing artificial intelligence and digital transformation solutions. This targeted approach reflects a strategic pivot toward empowering local entrepreneurs and building a more diversified, innovation-driven economy.
Infrastructure modernization remains a cornerstone of the partnership. Water supply system upgrades, energy efficiency programs, and expansion of the mortgage market are priority areas. The development of free economic zones infrastructure also features prominently in the investment blueprint, offering Uzbekistan enhanced capacity for international trade, logistics, and manufacturing activities.
Banking transformation and ecosystem support
Beyond direct project financing, the bank continues to support fundamental banking sector transformation across the nation. A newly created entrepreneurs’ association is positioning itself as a critical support infrastructure for the SME ecosystem, offering legal expertise, educational programs, market access guidance, and advocacy services. The association is currently structuring its financing model through membership dues and donor support.
Public-private partnerships in education and healthcare are also receiving heightened attention, signaling the bank’s confidence in Uzbekistan’s institutional capacity to deploy substantial capital in high-impact social sectors.
Strategic context
This investment commitment was formalized during discussions held ahead of the third session of Uzbekistan’s Foreign Investors Council, reflecting the timing of broader government efforts to attract international capital and demonstrate consistent policy backing for private sector growth.
Why this matters for international business
For international companies in furniture, construction, interior and exterior manufacturing, textiles, and related sectors, this financial commitment signals concrete opportunities. The emphasis on free economic zones infrastructure, combined with SME support programs and banking sector modernization, creates more favorable conditions for market entry, logistics networks, and supply chain development. Enhanced energy efficiency standards and modern water infrastructure also benefit manufacturing operations, while the expanding mortgage market and growing SME ecosystem suggest emerging demand for construction materials, interior solutions, and business services. The investment demonstrates Uzbekistan’s institutional commitment to creating a more attractive business environment — a critical factor for companies evaluating regional expansion strategies in Central Asia.
