Ahead of the Asian Infrastructure Investment Bank’s (AIIB) Ninth Annual Meeting of the Board of Governors in Uzbekistan, AIIB and the Government of Kazakhstan have committed to expand and strengthen cooperation to promote sustainable infrastructure development in Kazakhstan. On September 19 in Astana, Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy of Kazakhstan, who also
The Asian Development Bank (ADB) on 19 September approved a $300 million sector development program to support the Government of Uzbekistan’s efforts to expand access to finance for unbanked and underbanked microenterprises, fostering sustainable and inclusive growth in the country. “An inclusive and sustainable microfinance sector is essential to support micro and small businesses which
The Asian Development Bank (ADB) on 19 September said it has approved $109.5 million in financing to enhance the national road around the Issyk-Kul Lake, one of the most popular tourist destinations in the Kyrgyz Republic and a strategic location that connects to neighboring Central Asian countries. The Issyk-Kul Ring Road Improvement Project will construct
Kazakhstan’s national railways company Kazakhstan Temir Zholy says that 200 container trains from China have passed through the Kazakh port of Aktau since the beginning of 2024, compared to 11 trains last year. The Aktau port is a transit hub on the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor. The TITR
The Eurasian Development Bank (EDB) participated in the 6th Kyrgyz-Russian Economic Forum, held on 11–12 September in the Issyk-Kul region of Kyrgyzstan. At the forum, the EDB and the Russian-Kyrgyz Development Fund (RKDF) signed an agreement on investment projects and a memorandum on establishing a waste management system under a public-private partnership involving the EDB,
The International Finance Corporation (IFC), a member of the World Bank Group, says it is deepening its support for micro and small enterprises (MSEs) in Kazakhstan, with a particular focus on women entrepreneurs and rural agribusinesses, by investing up to $50 million in KazMicroFinance (KMF), one of the country’s leading microfinance institutions. KMF operates 18
Kyrgyzstan’s Ministry of Finance on September 9 said that it signed the Credit and Grant Agreements with the World Bank on a $13.6 million additional financing for the Kambarata-1 Hydropower Plant (HPP) Project in Kyrgyzstan. Consisting of a $2.6 million grant and a $11 million loan, this additional funding will supplement the World Bank’s ongoing
On September 10, the Government of Kazakhstan approved a draft of the National Action Plan for the implementation of the President’s Address to the people of Kazakhstan, “Fair Kazakhstan: law and order, economic growth, social optimism,” delivered on September 2, the Government’s press service reported. The plan consists of 76 measures aimed at improving the
Representatives from the Eurasian Development Bank (EDB) took part in the Eurasian Mountain Resorts Alliance (EMRA) CEO Summit, which kicked off on September 9 in Almaty. The alliance unites leading mountain resorts from Central Asian countries. The summit’s highlight is the international expert and investment forum titled “The Almaty Mountain Cluster as the Backbone of
Maersk (Denmark), one of the world’s largest container shipping operators, has published shipping tariff rates for its rail-sea service along the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, Logistan reports. The Maersk service along the TITR, an international multimodal transport corridor with the length of 11,000 km, runs from China to
The Junda oil refinery has re-opened in the city of Kara-Balta, about 100 km west of Bishkek. Zhongda China Petrol Company’s Junda oil refinery resumed operation after a four-year shutdown from February 2020 to March 2024. Late in March this year, the refinery completed a major overhaul and now plans to reach its full annual
A plant for the assembly of China’s SHACMAN heavy trucks and special-purpose vehicles (concrete mixers) has opened in Kyrgyzstan’s capital, Bishkek. At the opening ceremony on August 30, the First Deputy Mayor of Bishkek Mirlanbek Baigonchokov said that the construction of the plant was an important contribution to the development of Kyrgyzstan’s automobile industry. An
The European Bank for Reconstruction and Development (EBRD) says it is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant. The EBRD is offering a financial package of US$ 65 million (€ 58
The Asian Development Bank (ADB) on August 28 launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green transition to a
The Asian Development Bank (ADB) on August 27 launched a new country partnership strategy for Uzbekistan covering 2024–2028 that will support the country’s reforms to transform into a green and inclusive economy. Under the new 5-year strategy, ADB will work closely with the Government of Uzbekistan to facilitate the central Asian nation’s transition to a green economy,
Kazakhstan’s Deputy Minister of Foreign Affairs Alibek Kuantyrov last week met with President of Carlsberg Kazakhstan Vyacheslav Maltsev to discuss the Danish company’s plans to expand its activities in Kazakhstan and Central Asia. As reported by the Kazakh Foreign Ministry, Maltsev noted the favorable investment climate in Kazakhstan and told about a new Carlsberg Kazakhstan
Kazakhstan’s Ministry of Digital Development, Innovation and Aerospace Industry and Freedom Bank, on one side, and Tajikistan’s Agency for Innovation and Digital Technologies and Amonatbank, on the other side, last week signed a memorandum of cooperation in the development of IT technologies and innovations. The parties agreed to cooperate in the development of digital infrastructure
Kazakh Invest national company and the Chinese company Xinjiang Hengyuan Investment Management Co., Ltd. have signed a Memorandum of Understanding aimed at implementing a large-scale project to create a Kazakhstan-China Trade and Industrial Park in Astana. Xinjiang Hengyuan Investment Management Co., Ltd., based in Baiyang, China, with significant experience in executing similar projects, plans to build the
On August 19-21, a delegation of Kazakh Invest national company headed by the Chairman of the Board, Yerzhan Yelekeyev, visited Germany and held talks with major German companies. As reported by Kazakh Invest, at a meeting with representatives of WIS Kunststoffe Gmbh, which plans to produce compounds and plastics in Kazakhstan’s Atyrau region, the company’s general director, Sigmar
The Uzbek Ministry of Transport on August 20 announced the first container cargo transportation along a new multimodal route from the Indian ports of Mundra, Nhava Sheva and Chennai to Uzbekistan. The cargo was delivered by sea from India to the Iranian port of Bandar Abbas, and then by rail to the Sergeli station in
