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Country data

27.8 million
448,900 sq km

Key developments and challenges

  • Economic growth remains strong. Output grew at the rate of 8.2 per cent in 2012 and 8 per cent in the first half of 2013, on the back of strong domestic demand and large public investment projects.
  • Foreign exchange regulations remain restrictive and have been tightened further. The lack of a liberal trade and foreign exchange regime continues to be a major constraint on growth. Further restrictions have also been imposed on exchange transactions by individuals.
  • Business environment reforms continued. Following earlier simplification of company registration procedures, tax and licensing procedures, as well as insolvency procedures, have also been streamlined. At the same time, firms remain significantly constrained by foreign exchange restrictions.

Uzbekistan in the 2013 Transition Report

Building in Uzbekistan

Our work in Uzbekistan

In Uzbekistan we promote the development of the private sector, particularly micro, small and medium-sized enterprises.


Key facts about the EBRD's work in Uzbekistan

No. of projects


Net EBRD investment

€715 million

Cumulative disbursements

€507 million

Portfolio in private sector



Last updated 30 June 2014

View factsheet

Our strategy for Uzbekistan

The previous country strategy for Uzbekistan, adopted in March 2003, qualified Uzbekistan’s progress towards implementation of the principles of Article 1 of the Agreement Establishing the Bank as being slow and characterised by setbacks. Although some progress has been achieved on the economic side since then, there was no improvement in Uzbekistan’s political environment and prospects for quick political liberalisation remain remote.   

Read strategy


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