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
On May 28, Minister of Foreign Affairs of Uzbekistan Bakhtiyor Saidov held a roundtable meeting with about 30 leading Italian companies in Rome to discuss joint projects in energy, textile, transport, IT, engineering, and other areas. The Uzbek minister underscored the enormous potential of economic and investment cooperation between Uzbekistan and Italy. Speaking at the
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
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
On May 23, Kazakhstan President Kassym-Jomart Tokayev arrived in Singapore on a state visit. During his meeting with Singaporean President Tharman Shanmugaratnam, Tokayev described Singapore as a time-tested and reliable partner of Astana. Currently, over 140 Singaporean companies and joint ventures operate in Kazakhstan, with total Singaporean investments in the Kazakh economy exceeding $1.7 billion.
The Eurasian Development Bank (EDB), the Financial Credit Fund under the Ministry of Finance of the Kyrgyz Republic (FCF), the Russian-Kyrgyz Development Fund (RKDF) and the Kyrgyz Stock Exchange (KSE) have signed a letter of intent to implement a technical assistance project aimed at modernising the stock exchange in Kyrgyzstan. The modernisation project aims to
The European Bank for Reconstruction and Development (EBRD) says it is supporting inclusive lending in Kazakhstan by providing new funds to the country’s leading microfinancier, KMF. KMF has been an EBRD client for almost two decades. The financial package of up to US$ 25 million (€ 23.2 million) will be disbursed in local currency, the Kazakh tenge (KZT)
On May 16 in Astana, Kazakhstan President Kassym-Jomart Tokayev met with secretaries of the Security Councils of the five Central Asian countries. The Kazakh president noted that the meeting was an important stage in the preparation for the Sixth Consultative Meeting of the Heads of State of Central Asia, which will be held in Astana
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
On May 14, the Joint Conference of Turkmenistan and the European Union, entitled “30 years of cooperation between Turkmenistan and the European Union: working together for a better future,” was held at the Ministry of Foreign Affairs of Turkmenistan. The event was attended by representatives of ministries, state agencies and public organizations of Turkmenistan, the
On May 14, a high-level delegation from the Government of Switzerland will arrive in Bishkek to strengthen cooperation ties with the Kyrgyz Republic and familiarize with the results of the Swiss funded projects implemented in Kyrgyzstan, the Swiss Embassy in Bishkek announced. The delegation will be composed of Ambassador Mr. Arno Wicki, Assistant Director General of
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
On May 8, Russian President Vladimir Putin, President of Belarus Alexander Lukashenko, President of Kazakhstan Kassym-Jomart Tokayev, President of Kyrgyzstan Sadyr Japarov, and Prime Minister of Armenia Nikol Pashinyan gathered in Moscow for a meeting of the Supreme Eurasian Economic Council, the governing body of the Eurasian Economic Union (EEU). This year marks the tenth anniversary of the establishment of the Russian-led economic integration
The European Bank for Reconstruction and Development (EBRD) says it is supporting micro, small and medium-sized businesses and improving access to finance for young entrepreneurs in Uzbekistan by providing a financial package of up to US$ 20 million (€18.8 million) to a major private lender, Ipak Yuli Bank. The package consists of a US$ 10 million loan under
Significant steps towards expanding relations between Kazakhstan and Uzbekistan were made within the framework of the III Tashkent International Investment Forum on May 2-3, the Ministry of Foreign Affairs of Kazakhstan reported. Deputy Minister of Foreign Affairs of Kazakhstan Nazira Nurbayeva spoke at the event, saying that last year, the trade turnover between Kazakhstan and Uzbekistan reached
The European Bank for Reconstruction and Development (EBRD) on May 2 said it is contributing to the development of sustainable transport connections in Central Asia by financing the upgrade and expansion of a key transportation route in Uzbekistan. The EBRD’s sovereign loan of up to US$ 238 million (€224 million) will help rehabilitate around 81 km of
Speaking at the Third Tashkent International Investment Forum on May 2, President of Uzbekistan Shavkat Mirziyoyev said that in the past few years, Uzbekistan has attracted over 60 billion dollars in foreign investments, and more than 14 billion dollars from international financial institutions have been directed to social and infrastructure projects. The volume of foreign
