Shakhzod Alimkhodjaev

Shakhzod Alimkhodjaev
Overview
Experience

Shakhzod Alimkhodjaev is a Senior Associate in the Banking and Finance practice of the Tashkent office. His main areas of focus are PPP, investment projects, project finance and customary financing transactions (including secured financing and sovereign financing), corporate and M&A matters, as well as aviation lease and financing transactions.

Shakhzod has advised clients on the implementation of major investment, PPP and infrastructure projects, primarily providing transaction support to international financial institutions such as EBRD, ADB, IFC, EIB, AIIB, JICA, NEXI, and Sumitomo on a variety of complex legal issues connected with projects’ implementation and financing.

He has also provided legal assistance to clients in connection with financing transactions involving the Government of Uzbekistan, including direct sovereign borrowings and the issuance of state guarantees.

Shakhzod is intensively involved in aviation lease and financing transactions, successfully closing approximately four to five transactions annually, thereby contributing to GRATA’s position as one of the leading firms in the Uzbek aviation market.

In addition, he has assisted clients with the registration of international companies in the Republic of Uzbekistan, including the establishment of microfinance organizations and non-governmental non-commercial organizations.

Shakhzod has further advised foreign clients on a broad range of matters, including property pledge and mortgage arrangements, compliance reviews of corporate documents, contracts and governmental approvals, legal due diligence reviews, and the preparation of legal memorandums on various regulatory and transactional issues.

Shakhzod was also recognized as the “Best Service Department Lawyer by Number of Billed Hours (2025)” among all GRATA International offices.

Education:
2018 -2022, B.A. (Hons) in Commercial Law, First Class Honours, Westminster International University in Tashkent
Languages:
EnglishRussianUzbek
Experience
  • Advised a major international aircraft leasing company on the lease of six aircraft (A330 Freighter, A320Neo and A321Neo aircraft) to an Uzbek airline, including lease execution, aircraft delivery matters and issuance of Uzbek law legal opinions.
  • Advised a major Asian aircraft leasing company in connection with creation of a personal guarantee granted by an Uzbek businessman to secure obligations under an aircraft lease transaction involving an Airbus A220 aircraft, including drafting local law guarantee documentation and issuance of legal opinion.
  • Advised an international aircraft leasing company on the leasing of two Airbus A321NEO aircraft to a major Uzbek airline, including review of lease documentation, assistance with CP collection and issuance of Uzbek law legal opinions.
  • Advised an international aircraft leasing company on the leasing of two Airbus A321NEO aircraft to a major Uzbek airline, including full legal support in connection with execution and delivery matters.
  • Advised an international aircraft leasing company on all aspects of the leasing of two ATR aircraft to an Uzbek regional airline, including assistance with lease and novation arrangements and related local law matters.
  • Advised an international aircraft leasing company on leasing of an Airbus A330-243 P2F aircraft to an Uzbek cargo airline including review of lease documentation, delivery related matters and issuance of legal opinions.
  • Advised US based major aircraft financiers on Boeing aircraft financing and related security arrangements, including preparation of local law security documentation and issuance of Uzbek law legal opinions.
  • Assisted an international energy company in connection with approximately USD 250 million Murabaha financing provided by IFC for implementation of two energy projects in Uzbekistan, including review of financing documentation and issuance of legal opinions.
  • Advised a leading German international bank in connection with revolving letter of credit arrangements for implementation of a 250-MW solar power station and storage system project in Uzbekistan implemented under a PPP framework, including advising on Uzbek PPP law and issuance of legal opinions.
  • Advised a consortium of international lenders in connection with financing of three photovoltaic projects (Sherabad, Jizzakh and Samarkand) in Uzbekistan with total capacity approaching 1 GW, including review of project and finance documentation, drafting of security package documentation and issuance of legal opinions.
  • Advised a consortium of international lenders in connection with financing of Namangan wastewater treatment plant project implemented under a PPP structure in Uzbekistan, including drafting Uzbek law security documents and advising on PPP law matters.
  • Advised international lenders in connection with a wind power project in Uzbekistan financed by a consortium of international financial institutions, including analysis of applicable Uzbek legislation, review of project agreements and post-closing support.
  • Advised an international sponsors’ consortium in connection with implementation of an 800-bed multidisciplinary hospital PPP project in the Fergana region, including review of PPP documentation and legal support during the bidding process.
  • Assisted German bank in connection with a Bpifrance-supported export credit facility provided to the Republic of Uzbekistan, including review of finance documentation and issuance of Uzbek law legal opinions concerning sovereign debt compliance procedures.
  • Advised Italian governmental entity in relation to a EUR 100 million sovereign facility provided to the Republic of Uzbekistan for implementation of green transition initiatives, including review of finance documentation and sovereign debt compliance matters.
  • Advised a state-owned Uzbek metropolitan operator in connection with several sovereign-guaranteed financing transactions related to acquisition of subway trains and equipment, including issuance of legal opinions and support with local regulatory procedures.
  • Assisted a leading UAE commercial bank in connection with provision of a USD 300 million financing facility to a major Uzbek gas transmission company, including legal due diligence, drafting finance documents and issuance of legal opinions.
  • Assisted a major Chinese bank in connection with provision of RMB 360 million financing to a major Uzbek telecommunications operator for acquisition of telecommunications equipment, including review of finance and commercial documentation and issuance of legal opinions.
  • Advised a major international development finance institution in connection with USD 100 million and USD 75 million financing facilities extended to major Uzbek commercial banks for support of investment financing activities.
  • Advised a major international development finance institution in connection with financing facilities provided to major Uzbek commercial banks, including assistance with Uzbek law matters and issuance of legal opinions.
  • Advised a major international bank on Uzbek law implications of its merger with Credit Suisse AG and related transfer procedures concerning several financing projects implemented in Uzbekistan.
  • Provided various legal memorandums and regulatory advice to a leading global technology company on Uzbek and Turkmen law matters related to advertising, payment systems and digital services.

Publications:

  • Chambers and Partners, Mondaq, The Cape Town Convention and Aviation Financing in Uzbekistan: Legal Framework and Practical Implementation (2026);
  • World Bank, Benchmarking Infrastructure Development, “PPP Regulatory Landscape” (2022-2025);
  • World Bank, B-READY, “Business Location - Construction Permitting for Uzbekistan” (2026);
  • World Bank, B-READY, “Business Location – Transfer of Property Rights in Uzbekistan” (2026);
  • World Bank, B-READY, “Property Transfer” (2025);
  • World Bank, B-READY, “Building Permits” (2025);
  • World Bank, Doing Business Questionnaire, “Employing Workers” (2022);
  • World Bank, Doing Business Questionnaire, “Contracting Government” (2022);
  • World Bank, Doing Business Questionnaire, "Obtaining Loans - Legal Rights of Borrowers and Creditors" (2022);
  • Aviation Working Group, “Cape Town Convention – Compliance Index” (2022).