IFC — a member of the World Bank Group — says it is investing up to $3 million in local currency equivalent to Kompanion Bank, one of the leading community development banks in Kyrgyzstan, to provide financing for micro and small enterprises (MSEs) across the country. With 40 percent of the loan proceeds allocated to
To expand access to finance for micro and small enterprises, including women entrepreneurs across Kazakhstan, IFC (a member of the World Bank Group) and Arnur Credit have signed a local currency loan agreement of $10 million-equivalent. With 40 percent of the funding earmarked for women-run businesses, the financing includes a $5 million-equivalent local currency loan
Kazakhstan and the Islamic Development Bank (IsDB) have signed a Protocol of Intent providing for financing of up to USD 1.1 billion for the implementation of priority infrastructure projects. The document was signed following a meeting between Advisor to the Prime Minister of Kazakhstan Nurlan Baibazarov and President of the Islamic Development Bank, Dr. Muhammad Sulaiman Al Jasser.
Kazakhstan’s capital, Astana lags behind Almaty, the country’s largest city in terms of key development aspects, Energyprom.kz reports with reference to the Oxford Economics Global Cities Index 2025. Astana is on the 276th position among a thousand cities in the ranking, and Almaty ranks 258th. Astana is behind Almaty in such categories as the quality
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
