Uzbekistan's Funding from International Organizations Drops Nearly Fivefold
In Q3, $108 million was approved — 4.7 times less than a year earlier
In Q3 2026, international financial organizations approved $108 million in funding for Uzbekistan. In the same period of 2025, the figure stood at $504 million, according to a review by the Eurasian Development Bank (EDB).
From January to September 2026, the volume of investments by international financial organizations in Uzbekistan amounted to $840 million. A year earlier, $986 million had been approved for the same period.
One of the largest deals was the provision of $60 million in financing to Asakabank. The funds were provided by the Islamic Corporation for the Development of the Private Sector (ICD). Another major project was a loan in Uzbekistani soms for Davr Bank from the European Bank for Reconstruction and Development (EBRD), equivalent to $25 million.
Uzbekistan, Armenia, and Georgia were among the Eurasian countries where funding from international financial organizations declined. Across the nine countries in the region, approximately $1.07 billion was allocated to new projects in Q3 — 36% less than a year earlier. The EDB attributed the decline to a reduction in the number of large deals.
Against the backdrop of the overall decrease, Kazakhstan increased its funding volume by $207 million in Q3, Azerbaijan by $143 million, and Mongolia by $48 million. Over the nine months, the total funding volume for the region's countries grew by 50% and reached $6.79 billion.
EDB analysts expect a recovery in investment activity in the region in Q4 2026.
