EDB to support development of critical minerals mining and processing projects through partnership with TMC
Tashkent, 18 June 2026. — The Eurasian Development Bank (EDB) and the Uzbek Plant of Technological Metals (TMC) have signed a memorandum of understanding to cooperate in financing the extraction and processing of critical minerals and rare earth metals. The document is aimed at strengthening Uzbekistan's position in global supply chains for strategic raw materials by developing knowledge‑intensive industries and launching production of new materials with high export potential.
The parties agreed to jointly implement projects that will enable the plant to expand the production of high‑value‑added products. This will boost export potential and strengthen the Republic's technological sovereignty.
The document was signed by Alexey Skatin, Deputy Chairman of the Management Board of the EDB, and Ukthamjon Karimov, First Deputy Chairman of the Management Board for Economics and Finance of the Uzbek Plant of Technological Metals. The ceremony took place on the margins of the Tashkent International Business Forum.
Alexei Skatin, Deputy Chairman of the EDB Management Board:
"Developing the critical minerals sector is a strategic priority for Uzbekistan and the entire region. We expect the Bank's support to enable the plant not just to extract raw materials, but to create high‑tech manufacturing facilities that will strengthen the Republic's position in global markets."
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 326 projects with a total investment of US $19,6 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
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