Uzbekistan, EBRD discuss $2 billion energy cooperation portfolio

BAKU, Azerbaijan, June 17. Uzbek Energy Minister met with Regional Director for Eurasia at the European Bank for Reconstruction and Development (EBRD) to discuss $2 billion energy portfolio.

This was reflected in the statement by the Ministry of Energy of Uzbekistan, following the meeting between Uzbek Energy Minister Jurabek Mirzamakhmudov with Sule Kılıç, Regional Director for Eurasia at the European Bank for Reconstruction and Development (EBRD).

The meeting took place on the sidelines of the fifth Tashkent International Investment Forum.

Officials noted that the EBRD’s energy portfolio in Uzbekistan has reached nearly $2 billion, underscoring the bank’s view of Uzbekistan as a key strategic partner in Central Asia.

The EBRD’s $2 billion portfolio highlights the growing scale of international financing in Uzbekistan’s energy sector, particularly in renewable energy and infrastructure modernization. It also reflects sustained investor confidence in the country’s reform agenda.

"The parties discussed the current status of ongoing projects in the energy sector, mechanisms for promptly resolving existing issues, and opportunities to increase the share of local content in each project." the statement said.

At the conclusion of the talks, the parties agreed to take further steps to accelerate projects focused on renewable energy development, modernization of main power transmission networks and electrification of compressor stations.

The emphasis on increasing local content reflects Uzbekistan’s broader industrial policy aimed at developing domestic supply chains and ensuring that large-scale energy projects generate greater economic spillovers within the country.