The Uzbekistan Technological Metals Complex (TMK) and the Eurasian Development Bank (EDB) have signed a Memorandum of Cooperation aimed at implementing joint initiatives and projects focused on the efficient extraction of critical minerals, advanced processing technologies, and the development of sustainable supply chains.
The Eurasian Development Bank is a multilateral development institution that carries out investment activities across the Eurasian region. Its investment portfolio includes 326 projects with a total value of USD 19.6 billion. In its operations, the Bank adheres to the United Nations Sustainable Development Goals and ESG principles.
The memorandum signed between TMK and EDB is aimed at strengthening Uzbekistan’s position in global supply chains for strategic raw materials through the development of science-based industries and the production of new materials with high export potential.
"The development of the critical minerals sector is a strategic priority for Uzbekistan and the entire region. We believe that the Bank’s support will enable TMK not only to extract raw materials, but also to establish high-tech manufacturing facilities that will strengthen the country’s position in global markets," said Aleksey Skatin, Deputy Chairman of the Management Board of the Eurasian Development Bank.
During the meeting, the parties also agreed to jointly implement projects aimed at expanding the production of high value-added products.
