The Eurasian Development Bank (EDB) says it is preparing a concept for the Eurasian Transport Network aimed at enhancing connectivity across Eurasia and stimulating economic development, trade and mobility in the region. The Eurasian Transport Network is a system of international transport corridors and routes spanning over 50,000 kilometres. In 2023, five key corridors –
The United Nations Development Programme (UNDP) in Kyrgyzstan, in collaboration with the JIA Business Association, is launching a mentoring programme for women entrepreneurs and youth. The programme is part of the UNDP project “Aid for Trade in Central Asia”, funded by the government of Finland, and aimed at supporting the development of value chains of natural honey,
On June 3 in Astana, Chairman of the Board of the national company Kazakh Invest Yerzhan Yelekeyev held a meeting with executives of Singaporean companies. The delegation visited Kazakhstan following the results of the forum held in Singapore with the participation of Kazakhstan’s president in May. During the meeting, the parties discussed prospects for further investment cooperation
On June 3, Prime Minister of Kazakhstan Olzhas Bektenov and Chairman of the Board of Directors of China Nonferrous Metal Mining Co. Ltd. Xi Zhengping discussed cooperation in the copper industry. The result of the meeting was the signing of an agreement on the construction of a smelter with a capacity of 300 thousand tons
On May 30 in Rome, Minister of Foreign Affairs of Kazakhstan Murat Nurtleu held a series of meetings with the heads of major Italian companies interested in the development of investment, trade and economic cooperation with Kazakhstan. At the meeting with Stefan Pontecorvo, President of the transnational company Leonardo, the parties addressed the possibilities of
A webinar was held last week by the British company FrontierView on the topic “Kazakhstan’s potential: macroeconomic and investment prospects for 2024”. Ambassador of Kazakhstan to the UK, Magzhan Ilyassov and Project Manager of the Task Force Department of National Company Kazakh Invest, Dinara Isabekova attended the event. The webinar was held with more than 40 representatives of the British
Major companies from Russia, Kazakhstan, and Uzbekistan have shown interest in investing in Afghanistan’s oil and gas mines, Afghan broadcaster TOLOnews reported citing the country’s Ministry of Mines and Petroleum. Homayoon Afghan, spokesperson for the ministry, says they welcome foreign companies to invest in Afghanistan’s oil and gas mines. According to Mr. Afghan, recently two large
The World Bank’s Board of Executive Directors on May 24 approved a $100 million concessional loan for Uzbekistan to implement the Innovative Social Protection System for Inclusion of Vulnerable People (INSON) Project. The project aims to improve access to and quality of social services for vulnerable people in Uzbekistan. The project is also co-financed by a
The Eurasian Development Bank (EDB), a consortium of Tez Zhol and Zhagalmai, and DemirBank have signed agreements to build and maintain a bypass road around the town of Uzgen in the Osh region of southern Kyrgyzstan. According to EDB’s press office, the project aims to develop the road sector and improve connectivity in the Osh
The Eurasian Development Bank (EDB) and Kyrgyzstan’s Electric Stations have signed a technical assistance agreement for the purchase of equipment for the Bishkek combined heat and power plant (CHPP). This project, financed by the EDB Technical Assistance Fund (TAF), aims to address the consequences of an accident that occurred at the plant on 2 February
The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS). The project aims to expand clean and reliable electricity access to approximately 75,000 households, the World Bank said
The Eurasian Development Bank (EDB) and Bishkek Solar have signed a cooperation agreement to finance the construction of a 300 MW photovoltaic power station in Toru-Aigyr village in Kyrgyzstan’s Issyk-Kul region. The signing ceremony took place on 21 May in Bishkek. The project includes several key agreements, including an agreement with the National Electric Grid
The Eurasian Development Bank (EDB), the Financial Credit Fund under the Ministry of Finance of the Kyrgyz Republic (FCF), the Russian-Kyrgyz Development Fund (RKDF) and the Kyrgyz Stock Exchange (KSE) have signed a letter of intent to implement a technical assistance project aimed at modernising the stock exchange in Kyrgyzstan. The modernisation project aims to
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
