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 Uzbekistan’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 said: “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.”
