Companies and households in Tajikistan will have better access to green technologies and climate adaptation measures thanks to a new financing program approved by the European Bank for Reconstruction and Development (EBRD) for one of the country’s leading banks, the First Microfinance Bank (FMFB), which operates a nationwide network of 7 branches and 40 banking service centres in all
The Asian Development Bank (ADB) has marginally revised downwards its economic growth outlook for Kazakhstan in 2024, following weaker expansion in services in the first half of the year coupled with lower oil outputs, massive floods, and a slowdown in investment. The Asian Development Outlook (ADO) September 2024, the latest edition of ADB’s flagship publication, projects
On September 24, Chairman of the Management Board of JSC National Company Kazakh Invest Yerzhan Yelekeyev held a meeting with the Chairman of the Board of Directors of China Datang Corporation Ltd. Zou Lei, during which the parties discussed the implementation of the company’s investment project in Kazakhstan. Zou Lei informed the Kazakh side about the project’s progress for
More than 50 entrepreneurs from Kyrgyzstan are receiving a unique opportunity to learn about e-commerce through the “Janyration Sanarip” programme. This initiative, aimed at supporting micro, small, and medium-sized enterprises in the country, is being implemented through the efforts of the Government of the Kyrgyz Republic and the United Nations Development Programme (UNDP), UNDP Kyrgyzstan
On September 23 in New York, Deputy Prime Minister – Minister of Foreign Affairs of Kazakhstan Murat Nurtleu held a number of meetings with representatives of leading American companies to discuss the development of further long-term and mutually beneficial partnerships. During discussions with the leadership of PepsiCo, special attention was given to the development of
Tajik officials have said that electricity rationing is being introduced a month earlier than usual this year, RFE/RL’s Tajik Service reported. Electricity rationing has turned into an annual routine in Tajikistan over the past three decades. It is usually introduced in late October or early November. But the Barqi Tojik state energy holding announced over the weekend
The Asian Infrastructure Investment Bank (AIIB) has announced the program for its Ninth Annual Meeting of the Board of Governors, to take place on September 25-26 in Samarkand, Uzbekistan. The AIIB is a multilateral development bank whose mission is financing infrastructure in Asia and beyond. The Bank began operations in Beijing in 2016 and has
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
