The European Bank for Reconstruction and Development (EBRD) and Kazakhstan are joining forces to support the modernization and development of the national mining sector. They will cooperate on activities that can contribute to better governance, transparency and regulation of the sector in line with best international standards and practices, the EBRD reported. The Memorandum of Understanding (MoU)
The European Bank for Reconstruction and Development (EBRD) says it is supporting inclusive lending in Kazakhstan by providing new funds to the country’s leading microfinancier, KMF. KMF has been an EBRD client for almost two decades. The financial package of up to US$ 25 million (€ 23.2 million) will be disbursed in local currency, the Kazakh tenge (KZT)
The European Bank for Reconstruction and Development (EBRD) on May 15 said it is pledging new funds to support inclusive lending to the smallest customers in remote areas of Tajikistan. The Bank is providing a financial package of US$ 4 million (€3.7 million) to one of the country’s leading microlenders, MDO HUMO. HUMO, the winner of
According to the latest Regional Economic Prospects (REP) report published by the European Bank for Reconstruction and Development (EBRD), Central Asian economies in 2024 are expected to see growth slowing to 5.4 percent. However, a rebound to 5.9 percent is expected in 2025. The report notes that intermediated trade with Russia, which had been a significant growth
The International Finance Corporation (IFC), a member of the World Bank Group, has announced it will invest up to $5 million in Sturgeon Emerging Opportunities II, a new venture capital fund managed by Sturgeon Capital, a major venture capital investor. The money will help promote digital economies and support the growth of early-stage tech startups
Yerzhan Yelekeyev, Chairman of the Management Board of National Company Kazakh Invest, on May 13 met with Pascal Zappone, Vice President of the Swedish company Scania CV AB, to discuss the company’s plans to expand investment activities in Kazakhstan, including implementing an investment project to assemble electric generators, Kazakh Invest reported. Scania manufactures industrial and marine engines, trucks,
The U.S. Agency for International Development (USAID) will host the 13th Central Asia Trade Forum, entitled “Trade Connections: Bridging Globally,” on May 14 and 15 in Almaty, the U.S. Embassy in Kazakhstan announced. With more than 10,000 government and business leaders from 25 countries in Central and South Asia, Europe, and the United States participating since
Kazakhstan-based billionaire Mikheil Lomtadze has bought England’s Wycombe Wanderers soccer club, RFE/RL’s Kazakh Service reported. Lomtadze’s Blue Ocean Partners Ltd. paid an undisclosed amount for a 90 percent stake in the club, which plays in England’s League One, the third level of the English football league system, the BBC reported on May 5. The 48-year old Georgia-born
The United Nations Development Program (UNDP) in Kyrgyzstan, in collaboration with the PF “Training and Consulting Center” (TES-Center), is launching an initiative to strengthen the value chain (VAC) of natural honey under UNDP project “Aid for Trade in Central Asia”, funded by the Government of Finland. The project will continue to provide support to key
The European Bank for Reconstruction and Development (EBRD) says it is supporting micro, small and medium-sized businesses and improving access to finance for young entrepreneurs in Uzbekistan by providing a financial package of up to US$ 20 million (€18.8 million) to a major private lender, Ipak Yuli Bank. The package consists of a US$ 10 million loan under
