Tashkent, Uzbekistan (UzDaily.com) — During its fifth plenary session, the Senate reviewed and approved the Law "On the Accession of the Republic of Uzbekistan to the Agreement on the Establishment of the Eurasian Development Bank," which was signed in Astana on 12 January 2006.

The purpose of this Agreement is to stimulate economic growth among member countries and strengthen their trade and economic ties through active investment activities.

The document stipulates that the Eurasian Development Bank will operate in accordance with international treaties, international law, and generally accepted banking principles. The bank’s Charter is approved as an integral annex to the Agreement.

The Charter defines the bank’s areas of operation, key goals and objectives, functions, privileges, the size and formation conditions of its charter capital, as well as the mechanisms for managing the institution.

Additionally, the bank is tasked with collecting, systematizing, and analyzing data on the economic and financial conditions of member states, their investment potential, monetary and foreign exchange policies, as well as the legislative aspects of banking and currency regulation.

The adoption of this law establishes the legal framework for Uzbekistan’s full participation in the Eurasian Development Bank. It also contributes to strengthening economic cooperation among member states, expanding trade relations, and fostering integration processes across the Eurasian space through investment mechanisms.