In 2025 the European Bank for Reconstruction and Development (EBRD) invested almost US$2 billion (€1.72 billion) through 120 projects in Central Asia and Mongolia.
Uzbekistan was the leading recipient of EBRD funding in 2025 for the sixth year running (over US$ 1 billion, or €880 million). The EBRD provided almost US$ 440 million (€378 million) for projects in Kazakhstan, US$ 218 million (€188 million) in Mongolia, US$212 million (€183 million) in Kyrgyzstan, and US$100 million (€88 million) in Tajikistan.
In Uzbekistan, the EBRD’s financing package of US$ 142 million (€121 million) will support the development of Central Asia’s largest combined solar photovoltaic (1 GW) and battery energy storage system (BESS, 1,336 MWh) plant. Implemented jointly with ACWA Power, the project also marks the first investment by Japanese partners in Uzbekistan’s renewable energy and battery storage sector.
The EBRD also arranged a financing package of up to US$ 195.5 million (€168.5 million) for a 300 MW greenfield solar plant and a 75 MWh BESS facility in the Kashkadarya region of Uzbekistan. The project is owned and developed by Masdar, a global renewable and clean energy company.
The EBRD’s sovereign loan of up to US$ 250 million (€240 million) will finance the modernisation of 110 irrigation pumping stations in 10 regions of Uzbekistan.
In Uzbekistan projects with partner banks generated almost 39 per cent of the Bank’s annual business in the country. They included transactions with Hamkorbank, Ipak Yuli Bank and Universalbank for a total of US$ 125 million (€108 million) in support of SMEs and green investments.
The EBRD is the largest institutional investor in Central Asia. To date it has financed 1,250 projects for more than €21 billion.
