The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has released its 2024 report on investments in the region. According to the report, Kazakhstan attracted $15.7 billion in new projects, securing its position as the leading destination for investments in the North and Central Asia region, Kazakh Invest reported. In 2024,
Afghanistan’s Ministry of Mines and Petroleum has signed a contract for the construction of a major cement production plant in Logar with a Chinese company that also has an Afghan partner, TOLOnews reported. Hedayatullah Badri, acting minister of mines and petroleum, stated during the contract signing ceremony that approximately $145 million will be invested in
As of 20 December 2024, the “Work in the EAEU” mobile app, developed by the Eurasian Development Bank’s (EDB) Fund for Digital Initiatives, has launched public and commercial services for migrant workers in Uzbekistan. This enables individuals seeking employment in Uzbekistan to access the necessary services directly from their smartphones, the EDB said. The Eurasian
The Eurasian Development Bank (EDB) and the Qazaq Green Renewable Energy Association (Qazaq Green) have signed a Memorandum of Cooperation to facilitate research and exchange information on renewable energy projects, among other initiatives. The document was signed by Azamat Tyuleubai, Senior Managing Director and Head of the EDB Project Unit, and Nurlan Kapenov, Chairman of
The Eurasian Development Bank (EDB), represented by Ruslan Dalenov, Vice Chairman of the Management Board, and Karaganda Energotsentr, a 100% subsidiary of Kazakhstan Utility Systems, represented by Flyur Garipov, General Director, have signed a 13-year, US $240 million long-term loan agreement to finance the modernization and expansion of Karaganda Combined Heat and Power Plant 3
On December 23, Uzbekistan President Shavkat Mirziyoyev chaired a meeting on the priority tasks for 2025 to utilize additional opportunities and increase investments and employment in the northwestern region of Karakalpakstan. A project office will be established to develop three main areas in Karakalpakstan – agriculture, industry, and tourism. The office will analyze the growth
The European Bank for Reconstruction and Development (EBRD) says it is increasing the reliability and sustainability of Uzbekistan’s electricity supply by helping to finance the construction of a new high-voltage transmission line connecting the country’s north-western and south-western regions. The EBRD is issuing a sovereign loan of up to US$ 66.4 million (€63.9 million) to the
The World Bank has approved $3.5 million in financing for Uzbekistan in the form of a payment guarantee to support the country’s development of renewable energy. This support will secure the obligations of the state-owned National Electric Grid of Uzbekistan JSC to purchase electricity from a new 100-megawatt (MW) solar power plant to be constructed
The Asian Development Bank (ADB) and Hamkorbank have signed a 625 billion Uzbek sum (equivalent to about $50 million) loan to enhance access to financing to rural micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan. A majority of the loan will be allocated to support financial inclusion for MSMEs outside the capital of Tashkent. At
The World Bank has approved a $350 million International Development Association (IDA) grant as part of the first phase of a program to help Tajikistan finance the completion of the Rogun Hydropower Plant (HPP) Project. With a projected installed capacity of 3,780 Megawatts, the Rogun HPP will provide about 10 million people in Tajikistan with better
The World Bank has approved a comprehensive project to enhance digital services and improve digital skills in Tajikistan, including dedicated interventions targeting rural areas. The initiative aims to improve the delivery of digitally-enabled public services and boost digital literacy, fostering a more inclusive and resilient economy. The Tajikistan Digital Foundations Project, with a total funding of
Russia’s state-owned atomic company Rosatom is selling its stakes in uranium deposits in Kazakhstan to Chinese-owned companies as the Central Asian nation looks to avoid any international sanctions against Russian-linked assets and a sign of China’s growing influence in the region, RFE/RL reported. Kazatomprom, the world’s largest producer of uranium, said Uranium One Group —
Azerbaijani businessman Emin Agalarov and several other large investment companies plan to build an international tourist center, Sea Breeze Uzbekistan, on the shore of the Charvak reservoir in Bostanlyk district of Tashkent region. On December 16, Uzbekistan President Shavkat Mirziyoyev attended a presentation of the project. Bostanlyk is one of the most attractive tourism places
A new World Bank report highlights Kazakhstan’s progress in reducing poverty and the challenges ahead for inclusive growth, stressing that the pace of poverty reduction has slowed in recent years despite significant advances since the early 2000s. According to the “Kazakhstan Poverty and Equity Assessment 2024” report, making fiscal policy more pro-poor, improving the quality of education, and strengthening
Kazakhstan’s national railways company, Kazakhstan Temir Zholy (KTZ), has launched a new electric train connecting the country’s capital, Astana, and Borovoye, one of the country’s most popular resorts. Borovoye is the commonly used Russian name of the Burabay National Park, located just 250 kilometers north of Astana and famous for its pine forests and beautiful
The Eurasian Development Bank (EDB), the Ministry of Economy and Commerce and the Ministry of Energy of the Kyrgyz Republic have signed a trilateral Memorandum of Cooperation on the Suusamyr-Kokomeren HPP Cascade Project. An essential factor in Kyrgyzstan’s economic development is increasing energy capacity by utilising the natural hydropower potential of its rivers. The construction
The Eurasian Development Bank (EDB), the Islamic Development Bank (IsDB) Institute, and the London Stock Exchange Group (LSEG), in the spirit of promoting Islamic Finance in Central Asia, have held a panel discussion, “Bridging the Capital Road: CIS & GCC,” as part of the Islamic Banking program at Abu Dhabi Finance Week (ADFW). This panel highlighted the transformative
On December 11, Kazakhstan Prime Minister Olzhas Bektenov held a meeting of the Board of Directors of JSC National Company Kazakh Invest to review the results of the company’s work and plans for further attraction of investments into the country’s economy. Chairman of the Board of NC Kazakh Invest JSC Yerzhan Yelekeyev reported that this
The Eurasian Development Bank (EDB) has published its Macroeconomic Outlook, summarizing a preliminary overview of economic developments in the Bank’s six member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan — in 2024, along with key macroeconomic projections for 2025, as well as for 2026 and 2027. EDB analysts estimate that GDP growth in
The Eurasian Development Bank (EDB) and Eurasian Logistics Park LLP have signed a loan agreement for the construction of a Class A industrial and logistics complex in the Almaty region of Kazakhstan. The loan amounts to 16.6 billion tenge. The project provides for the construction of two modern warehouse buildings with a total area of 50
