Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan may join the Eurasian Development Bank (EDB) by the end of 2024. TASS reported.

Legal issues regarding Uzbekistan’s accession to the Eurasian Development Bank (EDB) will be settled before the end of the year, Nikolai Podguzov, head of the development bank, told reporters.

According to him, the country will receive approximately 10% of the bank’s capital.

“We now, having already received Uzbekistan’s application to join the bank, expect that Uzbekistan’s participation in the bank will be approximately 10%. We hope that all legal issues of entry will be completed this year,” he said.

This, he noted, will affect changes in the shares of participants and shareholders in the bank proportionally.

The Eurasian Development Bank (EDB) was created in 2006 by Russia and Kazakhstan. In 2009, Armenia and Tajikistan joined the bank, in 2010 - Belarus, and in 2011 - Kyrgyzstan.

The bank’s head office is located in Almaty. In addition, the EDB has a branch in St. Petersburg and representative offices in Astana, Bishkek, Dushanbe, Yerevan, Minsk and Moscow.

The bank’s authorized capital is US$7 billion: paid - US$1.5 billion, unpaid - US$5.5 billion.