The European Bank for Reconstruction and Development (EBRD) says it is supporting the development of small businesses owned or led by women and the deployment of green technologies in Kyrgyzstan by providing a financial package of US$ 8 million (€ 7.6 million) to the country’s major microlender FINCA Bank Kyrgyzstan (FINCA). The package will consist of
Chairman of the Management Board of Kazakh Invest national company Yerzhan Yelekeyev and Director of Harvest Agro Holding LLP Daulet Uvashev have signed a framework agreement to implement a large-scale agro-industrial cluster project. The project envisions the conversion of 150,000 hectares of pasture and grazing lands into irrigated agricultural land using underground water and modern water-saving technologies
Afghanistan’s power company Da Afghanistan Breshna Sherkat (DABS) announced that discussions are ongoing with Turkmenistan over the roadmap to begin work on the Turkmenistan-Afghanistan-Pakistan (TAP) Power Transmission Project in Afghanistan, TOLOnews reported. According to company officials, Turkmenistan has committed to implementing the project, and once completed, Afghanistan will annually receive between 300 to 350 megawatts
The Kazakhstan–Italy Business Forum was held in Astana on May 28. In his welcoming remarks, Kazakhstan’s Prime Minister Olzhas Bektenov highlighted the significant role of the business forum in expanding trade and economic ties between Kazakhstan and Italy. He noted that the strategic partnership between the two countries is dynamically developing thanks to the efforts
As part of Kazakhstan-France Business Forum in Astana on May 28, 15 bilateral agreements were signed between government bodies, national companies, and business entities of the two countries. The agreements span strategic sectors such as energy, healthcare, technology, logistics, agriculture, education, and sustainable development, Kazakh Invest reported. One of the key documents was an Investment
On May 27, Uzbekistan President Shavkat Mirziyoyev listened to reports on the ongoing work to expand the drinking water supply and sewage services in the country. Today 81% of all cities and villages in Uzbekistan have access to centralized drinking water supply, and the sewage system coverage is 20%. In the current year, it is
Kyrgyzstan’s Ministry of Water Resources, Agriculture and Processing Industry has begun the first-ever agronomic testing of citrus and olive crops, including oranges, mandarins, olives, and kumquats (a type of orange). Seedlings have been brought from Turkey for experimental planting in the Kadamjai district of Kyrgyzstan’s southernmost Batken region, where the agro-climatic conditions are most favorable
As Kazakhstan has experienced growing energy deficit, with the gap between electricity production and consumption reaching 2.4 billion kilowatt-hours in 2024, the country has prioritized the development of renewable energy sources (RES) for ensuring sustainable energy supply and combating climate change. According to the Ministry of Energy, the share of electricity generated from RES in Kazakhstan
On May 21, Kazakhstan’s Minister of Agriculture Aidarbek Saparov and Ms. Sun Meijun, head of China’s General Administration of Customs, signed a Protocol on Inspection, Quarantine and Food Safety Requirements for Import and Export of Poultry Meat between Kazakhstan and China. The document allows Kazakh poultry meat exports to China. According to the Ministry of Agriculture, Kazakhstan
The Eurasian Development Bank (EDB), the Islamic Development Bank (IsDB) Institute, and the London Stock Exchange Group have published a joint report, “The Future of Islamic Finance in Central Asia”. The report provides a comprehensive analysis of the current status and prospects of Islamic finance in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. According to the
The World Bank has approved a $200 million concessional credit for a project that aims to reduce water losses and increase the energy efficiency of irrigation systems across five regions of Uzbekistan — Karakalpakstan, Bukhara, Kashkadarya, Namangan, and Surkhandarya. The government of Uzbekistan will co-finance the project with $23.2 million. This project marks the first
The 16th meeting of the Kazakhstan-German Business Council took place in Astana on May 21 with the participation of First Deputy Prime Minister of Kazakhstan Roman Sklyar. The event brought together representatives of key ministries and leading members of Kazakhstan’s business community. “Our platform is in high demand and has proven to be very effective.
Marat Bashimov, a member of the Mazhilis (lower house of Kazakhstan’s parliament), has sent a letter to the country’s Prosecutor General Berik Asylov about the need for “extended confiscation.” Bashimov believes that it is time for the Kazakh authorities to tighten legislation on the return of illegally obtained assets, the fight against corruption and money
The World Bank’s Board of Executive Directors has approved a $100 million concessional credit to support Uzbekistan’s efforts to enhance integration of renewable energy into its electricity distribution networks and improve supply reliability in priority regions. Uzbekistan’s Regional Electric Power Networks (REPN) will provide $50 million in co-financing. This marks the World Bank’s first-ever Program-for-Results (PforR) financing in
The 8th Meeting of the Intergovernmental Commission on Trade and Economic Cooperation between Uzbekistan and Türkiye was held in Tashkent on May 15. As part of the event, the Uzbekistan–Türkiye Business Forum and an industrial exhibition were also organized with the participation of business communities from both countries. The meeting was attended by official delegations
In 2024, Kazakhstan retained its position as a major exporter of mineral resources, particularly crude oil, according to the country’s Ministry of Trade and Integration. In 2024, Kazakhstan’s exports exceeded $81 billion, with crude oil earning $42.9 billion or 52.5% of the country’s exports. Kazakhstan also exported uranium ($4.6 billion), copper and copper cathodes ($4.1
The European Bank for Reconstruction and Development (EBRD) and the European Union are boosting access to finance for micro, small and medium-sized enterprises (MSMEs) in Central Asia and Mongolia. According to the EBRD, an additional €25 million in EU guarantees will be made available to local partner financial institutions for on-lending to this business segment.
The Fund for Digital Initiatives of the Eurasian Development Bank (EDB FDI) has issued a grant to Kompas JSC to implement traffic simulation software in Kazakhstan. The project aims to ensure the sustainable development of the urban environment in Astana, the country’s capital characterized by the steady increase in population. Traffic simulation allows using computational
The city of Osh in Kyrgyzstan is joining the EBRD Green Cities programme – a flagship initiative run by the European Bank for Reconstruction and Development – with a view to addressing key climate challenges and environmental issues through investment in green urban infrastructure, the EBRD said. The city is set to launch a Green City Action Plan (GCAP),
With the support from international financial organizations, Kazakhstan’s Ministry of Water Resources and Irrigation is modernizing 1,485 irrigation canals with a total length of over 6,000 km, according to Minister of Water Resources Nurzhan Nurzhigitov. Last year, the ministry completed the reconstruction of 162 canals with a total length of 778 km. By the end
