Uzbekistan officially joins BRICS' New Development Bank (NDB)

Uzbekistan’s President Shavkat Mirziyoyev has signed a law formalising the country’s accession to the BRICS New Development Bank (NDB), according to a document published on the national legislation database on Friday. ‘Accession to the Agreement on the New Development Bank (Fortaleza, 2 July 2014),’ reads the document. Fortaleza refers to the name of the treaty underpinning the NDB’s creation. In April, the lower house of Uzbekistan’s parliament adopted the law on accession to the NDB, and the Senate approved it on Tuesday (19 May). The lower house had previously stated that Uzbekistan’s joining the NDB would provide an alternative and preferential flow of investment to modernise the national economy. The main sectors of the project include transport, energy, construction and industry. Specifically, the funds are expected to be raised for a nuclear power plant project currently under construction in the country. Uzbekistan has been a BRICS partner country since 1 January 2025. In June 2025, the Ukrainian presidential office’s press bureau reported that the NDB’s Board of Governors had approved principles for Uzbekistan to join the bank.