The European Bank for Reconstruction and Development (EBRD) says it is providing funds to develop sustainable transportation solutions in the city of Osh in Kyrgyzstan. This is the second project under the EBRD Green Cities programme, which the city joined in May 2025. Home to more than 450,000 people and known as the country’s southern capital, Osh
IFC — a member of the World Bank Group — on July 8 signed a loan agreement to provide up to $10 million equivalent in Kyrgyz soms to Adal Azyk LLC and its subsidiaries (trademark “Toyboss”), the largest producer of sausages and poultry meat in Kyrgyzstan. The financing will help boost local food production, create
Uzbekistan’s tourism targets are well known: President Mirziyoyev has repeatedly stated that he aims to attract 15 million international arrivals a year by 2030, which represents a more than 100% increase from 2023, reads the following article by Sophie Ibbotson, published in OCA Magazine: More valuable metrics for the economy, however, are the financial contribution
On July 5, the Uzbek-Korean Business Forum was held in Tashkent as part of the official visit of the delegation from the city of Ulsan. The event brought together over 100 representatives from the business community and government agencies of Uzbekistan and the Republic of Korea. The forum was chaired by the Deputy Prime Minister
The agriculture ministry in Kyrgyzstan has recommended local farmers to focus on growing rice, as it believes that rice cultivation is one of the most profitable sectors in the country’s agriculture. The most profitable is the cultivation of Uzgen rice, a variety of red rice valued and beloved by the Kyrgyz and Uzbek people, who
In the first quarter of 2025, there were 160,400 households in Kazakhstan with incomes below the subsistence level, 0.1% less than a year earlier. These households included 924,400 people, compared to 928,100 a year earlier, according to an analysis of finprom.kz. In terms of regions, the largest number of families with incomes below the subsistence
Kazakhstan’s Minister of Ecology and Natural Resources, Erlan Nysanbayev, has announced the government’s decision to begin controlling the rapidly expanding population of the saiga antelope in the country. The announcement was made following a June 28 meeting of the minister with farmers in the West Kazakhstan region, who complained about the catastrophic damage to agricultural
The Eurasian Development Bank (EDB), a supranational financial institution headquartered in Almaty, Kazakhstan, issued a private placement bond, denominated in dirham, in the local UAE capital markets. This pioneering issuance of AED 200 million (equivalent to c. US$54 million), was arranged by First Abu Dhabi Bank (FAB), the largest bank in the UAE, in partnership with
A Memorandum of Understanding has been signed between Azamat Kozhanov, Deputy Chairman of the Management Board of Kazakh Invest national company, and Maria Perez, Kazakhstan Project Director of the international business publication The Business Year. The agreement outlines cooperation on the upcoming edition The Business Year: Kazakhstan 2026, focused on Kazakhstan’s investment potential. In line with the
The International Finance Corporation (IFC), a member of the World Bank Group and Asian Credit Fund (ACF), one of the leading microfinance institutions in Kazakhstan, announced a new strategic partnership aimed at expanding access to finance for micro enterprises in rural areas of Kazakhstan. This collaboration is expected to foster financial inclusion, create jobs, and
Construction of a plant for the collection, transshipment and fractionation of liquefied petroleum gas (LPG) from the Kashagan oil field has begun in Kazakhstan’s Atyrau region. The project is aimed at ensuring stable supplies of LPG to the domestic market and reducing chronic shortages of this type of motor fuel. LPG is the most affordable
On July 1, Uzbekistan President Shavkat Mirziyoyev reviewed a presentation outlining plans in digital technologies, artificial intelligence, and telecommunications. Significant progress has been achieved in the development of digital technologies in the country. The number of IT Park residents has exceeded 2,800, with 752 of them being foreign companies. Approximately 40,000 young people earn high
Uzbekistan President Shavkat Mirziyoyev delivered a speech on the occasion of Youth Day, celebrated on June 30. According to the president, the conditions being created for youth in the country are already yielding tangible results. Last year, Uzbekistan ranked first in Central Asia in the number of students admitted to the world’s top 500 universities.
As a follow-up to the agreements reached during the visit of Deputy Prime Minister – Minister of Foreign Affairs of Kazakhstan Murat Nurtleu to India, a meeting was held on June 26 at Kazakh Invest national company with the leadership of one of India’s leading pharmaceutical companies, MSN Group. During the negotiations, Chairman of the
Kyrgyzstan’s GDP growth rate is projected to increase to 10.3% in 2025, after 9% a year earlier, according to the Eurasian Development Bank’s (EDB) latest Macroeconomic Outlook for its member states. The increase is driven by rising gold prices, household consumption, and investment demand. According to the EDB, state investment programs, which are mainly financed by international financial institutions, create
The World Bank says it has approved a $150 million concessional credit to support Uzbekistan in implementing a new project aimed at developing its potential in the small hydropower (SHP) sector and strengthening electricity supply across the country. The project will be implemented with private sector participation, involving local small hydropower developers (SHDs) and banks. Uzbekistan’s electricity
To increase access to green and social financing in Kyrgyzstan, IFC, a member of the World Bank Group, has announced a subscription of up to $15 million in the country’s first-ever sustainability bonds, issued in local currency by the Kyrgyz Investment and Credit Bank (KICB). This landmark issuance will enable KICB to offer more local
On June 24 in Astana, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Gabidulla Ospankulov signed an investment contract with Alexander Blumhardt, Authorized Representative for CIS Countries at Knauf’s Managing Partners. The project involves building a modern plant using local raw materials, with a total investment of 30.5 million US dollars
On June 23, Uzbekistan President Shavkat Mirziyoyev reviewed a presentation on measures to supply major industrial enterprises with green energy. Uzbekistan is rapidly developing its green energy sector. In a short period, nearly $6 billion in direct foreign investment has been attracted to the industry. Electricity production has increased from 59 billion to 82 billion
On June 20, Chairman of the Jokargy Kenes of the Republic of Karakalpakstan Amanbay Orinbayev met with active youth of the city of Nukus within the framework of the “Youth Month”. Specialists presented presentations and information on the development of the sphere, the provision of IT services, the establishment of a large income through little
