The World Bank’s Board of Executive Directors has approved a $100 million grant from the International Development Association (IDA) to support foundational economic reforms, including in the digital, aviation, and energy sectors, aiming to open up the economy and generate more and better-paid jobs in Tajikistan. The Second Competitive and Inclusive Tajikistan Development Policy Operation builds on the first
The Uzbekistan–Georgia Business Forum was held in Tbilisi on July 1, providing a platform for advancing bilateral trade, investment and industrial cooperation between the two countries. The event brought together government officials, financial institutions and business leaders from Uzbekistan and Georgia to explore new opportunities for economic partnership, according to the Uzbek Ministry of Investments,
The “Investing in Central Asia: Opportunities and Partnerships” session dedicated to attracting capital from the Gulf countries and China was held on the second day of the Eurasian Development Bank’s (EDB) Annual Meeting and Business Forum in Almaty last week. Ruslan Dalenov, Deputy Chairman of the EDB Management Board, noted that the Bank envisages five
President Shavkat Mirziyoyev held a meeting with young people on the occasion of June 30 – Youth Day. “From the very beginning of the reforms, we identified supporting young people and helping them achieve their dreams and aspirations as one of the highest priorities of state policy,” the President said. Mirizyoyev emphasized that, in today’s increasingly
The Eurasian Development Bank (EDB) and AKASHI DATA CENTER PLC have agreed on key terms for financing the first phase of construction of a Tier IV data center in Kazakhstan in the amount of US $90 million. The agreement was signed last week in Almaty on the sidelines of the EDB’s Annual Meeting and Business
As part of ongoing efforts to create a more convenient and safer environment for tourists in Uzbekistan, measures are being taken to develop the country’s car rental (Rent-a-Car) services. An open dialogue was held at the Tourism Committee, bringing together representatives of the Ministry of Digital Technologies, the Customs Committee, insurance companies, and car rental
The Kazakhstan-Turkmenistan Business Forum, which brought together representatives of government agencies, business circles, and industry organizations from both countries, was held in Astana as part of the 14th meeting of the Intergovernmental Kazakh-Turkmen Commission. Participants discussed prospects for expanding trade, economic, and investment cooperation, as well as specific measures to increase mutual trade, according to
On June 26, President Shavkat Mirziyoyev reviewed measures to reduce the share of the shadow economy. In recent years, systematic efforts have been undertaken in this direction. In particular, special and territorial commissions to combat the shadow economy have been established, risk analysis and segmentation systems have been introduced in the tax and customs authorities,
An Afghan–Kyrgyz Forum was held in Bishkek with the participation of business representatives from both countries, including officials of the Islamic Emirate of Afghanistan and the Kyrgyz government, TOLOnews reported. Addressing the forum, Abdul Shakoor Haqqani, acting head of the Afghan Embassy in Bishkek, emphasized expanding bilateral cooperation in trade, investment, and transportation. An agreement
The Ministry of Artificial Intelligence and Digital Development has initiated efforts to establish lasting conditions for the growth of technology entrepreneurship in Kazakhstan. As part of its digital economic transformation strategy, the Ministry is developing a post-2028 support framework for Astana Hub participants, with a planning horizon extending to 2045. The initiative aims to create
The United Nations Development Programme (UNDP) continues to support the Government of Kyrgyzstan in developing instruments that strengthen export potential and enhance the competitiveness of domestic companies in international markets. Within the framework of the UNDP’s Trade Facilitation project, in cooperation with the Open Joint Stock Company State Insurance Organization, work has been carried out
The European Bank for Reconstruction and Development (EBRD) is improving access to licensed medical products in Uzbekistan by financing the expansion of Big-Family-Pharm (BFP), operator of the Akmal Pharm pharmacy chain in the Fergana Valley. BFP, which runs 86 retail pharmacies across the Tashkent, Andijan and Fergana regions of Uzbekistan, will receive an EBRD loan of
The Eurasian Development Bank (EDB) and the Uzbek Plant of Technological Metals (TMC) have signed a memorandum of understanding to cooperate in financing the extraction and processing of critical minerals and rare earth metals. The document is aimed at strengthening Uzbekistan’s position in global supply chains for strategic raw materials by developing knowledge‑intensive industries and
The World Bank’s Board of Executive Directors has approved $150 million in concessional financing from the World Bank’s International Development Association (IDA) to help Uzbekistan implement the Second Phase of the Rural Infrastructure Development Program. The program activities will improve public infrastructure and services for rural communities in six regions across the country, according to the World Bank.
The Eurasian Development Bank (EDB) and Yashil Energiya have signed a memorandum of understanding to cooperate in renewable energy. The parties plan to jointly finance and implement projects in distributed solar generation, electric vehicle charging infrastructure and small hydropower plants in Uzbekistan. The ceremony took place within the framework of the Tashkent International Investment Forum last
Over the past three decades, the post-Soviet space has embraced megaprojects with a fervour reminiscent of Soviet-era “gigantomania”. A new terminal, a new city, a new tech hub, a new railway – each presented as a leap into the future. Too many of these projects have turned out not to be engines of growth, but
The European Bank for Reconstruction and Development (EBRD) says it is providing funds to develop sustainable transportation solutions in Nukus, the sixth-largest city in Uzbekistan and the capital of the autonomous republic of Karakalpakstan, in the latest project under the EBRD Green Cities programme. The EBRD’s sovereign loan of up to US$ 37 million (€ 32.2 million)
Kyrgyzstan has put into operation the first phase of a new solar power plant, ROX Issyk-Kul, located in the village of Kyzyl-Oruk in the Issyk-Kul region. The facility has been constructed by Vietnam’s ROX Group, with the investment in the 175-megawatt first phase totaling $131 million. All phases of this solar power plant will have
The European Bank for Reconstruction and Development (EBRD) and the government of Uzbekistan have agreed to deepen their long-term strategic cooperation, helping to establish a competitive, resilient, green and well-governed private sector and supporting the preparation and implementation of public-sector projects, according to the EBRD. The enhanced partnership framework agreement (EPFA) between the two parties will
The Uzbekistan-Turkiye Business Forum was held on June 16 in Tashkent. The event was attended by Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan Jamshid Kuchkarov, Minister of Trade of Turkiye Omer Bolat, as well as representatives of government agencies, business circles, investors, major corporations, and business associations from both countries, according