Tashkent is considering the possibility of issuing municipal bonds and attracting international investment for infrastructure and urban development projects, according to the city administration (hokimiyat). The issue was discussed during a meeting between Tashkent Mayor Shavkat Umurzakov and Max Lami, Chief Executive Officer for Europe, the Middle East and Africa (EMEA) at investment bank Oppenheimer & Co.
During the meeting, the parties examined opportunities for Tashkent to access international capital markets, including through the issuance of municipal bonds. The discussions also covered attracting investment for major infrastructure and urban development projects in the capital.
Attention was given to developing public-private partnership mechanisms and using international financing instruments. The parties also discussed studying foreign experience in municipal financial management and improving the qualifications of local specialists. At the conclusion of the meeting, the parties signed an agreement on mutual cooperation.
According to the Tashkent city administration, the agreement is aimed at expanding cooperation with international financial institutions and investors, as well as financing urban development projects. The possibility of issuing municipal bonds in Tashkent had previously been raised in November 2020.
Earlier Daryo reported that Uzbekistan and the United States have secured $12bn in new agreements, while bilateral trade has grown by 35% since the beginning of 2026, as President Shavkat Mirziyoyev and U.S. Secretary of State Marco Rubio discussed strengthening strategic cooperation in investment, security, critical minerals, energy and advanced technologies.