According to Conrad Albrecht, Managing Director and Head of the Eurasian Development Bank (EDB) Directorate of Sustainability, the EDB, as a financier for regional projects, has a unique mandate with a primary focus on fostering cross-country infrastructure development and business integration among its six member countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. “Our main
China has been strengthening ties with Central Asian nations with the aim to secure access to the region’s energy resources — oil, natural gas, coal, uranium, and renewable energy sources. China needs these energy resources for accelerated economic development in its northwestern Xinjiang Uygur Autonomous Region, which borders Central Asian countries. This is one of
First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Adylbek Kasymaliev on March 20 officially inaugurated the modernization of the Kant Cement Plant. The Eurasian Development Bank (EDB) has allocated up to CNY 351.2 million for the project. The ceremony brought together heads of relevant national and regional authorities. The EDB’s financing
On March 18, with the participation of the Minister of Foreign Affairs of Turkmenistan Rashid Meredov and the Director General of the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan Mammethan Chakyev, a roundtable was organized with the European business community on the topic “Turkmenistan and the EU: towards a new
Prime Minister of Kazakhstan Olzhas Bektenov on March 18 held a meeting on the implementation of instructions of the Head of State Kassym-Jomart Tokayev to improve the quality of life in the country, announced at the third meeting of the National Kurultai (Congress) on March 15. On the issue of repair and modernisation of the
The European Bank for Reconstruction and Development (EBRD) says it is supporting the expansion of Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia, by extending a convertible loan of up to KZT 5.5 billion (€11 million). The funds will be provided to Salt Industry Ltd., a joint-stock company operating under the
Deputy Prime Minister–Minister of Foreign Affairs of Kazakhstan Murat Nurtleu during his visit to Austria on March 16 met with the top management of the leading companies in the construction, logistics, and machinery industries. During the conversation with the CEO of the Lasselsberger Group, Josef Lasselsberger, the progress of the investment project for the production
The World Bank’s Board of Executive Directors has approved a loan in the amount of $600 million to Kazakhstan, marking the first phase of a series of reforms aimed at promoting sustainable and inclusive economic growth in the country. The reforms support Kazakhstan’s transition towards an economy that is greener, has more competitive markets, and is more
The Governments of the United States, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan joined private sector representatives in the inaugural B5+1 Forum in Almaty, Kazakhstan, from March 13-15. Announced by President Biden during the inaugural C5+1 Summit in September 2023 and highlighted in the corresponding New York Declaration, the B5+1 is the private-sector-led counterpart
Kyrgyzstan’s Ministry of Economy and Commerce has announced that it has agreed with Kazakhstan not to introduce restrictions and bans on products licensed in Kyrgyzstan. Kazinform information agency recently reported that Kazakhstan planned to introduce a ban on some products licensed in Kyrgyzstan from July 1, 2024. According to the Committee for Technical Regulation and
The Kazakh-Belgian business forum with the participation of more than 60 officials and representatives of business communities of Kazakhstan, Belgium and Luxembourg was organized on March 12 in Brussels by the Embassy of Kazakhstan in Brussels, as well as the BEСI (Brussels) and BeNeLux (Astana) Chambers of Commerce. While greeting the participants, Ambassador of Kazakhstan
Kazakhstan intends to sign an agreement with Kyrgyzstan on the promotion and protection of investments, KazTAG information agency reported on March 12. “To approve the draft agreement between the government of the Republic of Kazakhstan and the Cabinet of Ministers of the Kyrgyz Republic on the promotion and mutual protection of investments,” says the draft
The United States Agency for International Development (USAID) has contributed US$7 million to the United Nations World Food Programme (WFP) to bolster assistance for vulnerable households facing rising food insecurity in Tajikistan, the U.S. Embassy in Tajikistan said on March 12. The funding will enable WFP to support vulnerable communities to better meet their food
On March 11, Kazakhstan President Kassym-Jomart Tokayev arrived in Azerbaijan on a state visit. In Baku, Tokayev held talks with his Azerbaijani counterpart Ilham Aliyev. The two leaders also participated in the first meeting of the Interstate Council of Kazakhstan and Azerbaijan. Tokayev and Aliyev also took part via a teleconference in the ceremony of
The U.S. Agency for International Development (USAID) announced the launch of the Business Support Project, a groundbreaking initiative aimed at fostering sustainable and inclusive economic growth in Uzbekistan. The launch event on March 5 marked the beginning of a five-year journey towards enhancing the competitiveness of small and medium enterprises across four key sectors: information
On March 6, the Organisation for Economic Co-operation and Development (OECD), the European Union (EU) and the Asian Development Bank (ADB), in cooperation with the Government of Uzbekistan, launched the “Roadmap for Sustainable Investment Policy Reforms (RSIPR)” Project funded by the EU and ADB. The project will provide a comprehensive assessment of the investment framework currently
The European Bank for Reconstruction and Development (EBRD) says it is providing fresh funds and creating new growth opportunities for women-owned and managed businesses in Uzbekistan by offering a loan of up to US$ 6 million (€ 5.5 million equivalent) to Uzbek Leasing International (Uzbek Leasing). The loan to Uzbek Leasing is extended under the EBRD’s Central Asian Women in
The World Bank and the IFC, the private sector arm of the World Bank Group, on March 1 organized the first Conference on Elevating Global Access through E-Commerce (E-GATE) in Tajikistan. In Central Asia, e-commerce is emerging as a powerful tool to tap into global markets for locally made products, modernize traditional supply chains, and foster
On February 29, in the Chinese city of Chongqing, Kazakhstan’s national railways company KTZ and the logistics platform Yuxinou (Chongqing) Logistics Co., Ltd signed an agreement on the organization and dispatch of 200 container trains through Kazakhstan, including along the Trans-Caspian International Transport Route, with a cargo volume of more than 20 thousand 20-foot equivalent
The European Bank for Reconstruction and Development (EBRD) says it is promoting green lending in the Kyrgyz Republic by adding three partner banks to its US$ 50 million Green Economy Financing Facility III (KyrSEFF III). Demir Kyrgyz International Bank, FINCA Bank Kyrgyzstan, Kyrgyz Investment and Credit Bank have agreed to engage in lending to small and medium-sized businesses and households across the country.
