The Asian Development Bank (ADB) has raised its growth forecast for Uzbekistan for 2024 and 2025 after economic growth in the first half of 2024 outpaced expectations due to higher investment and strong expansion in industry. This was presented on 3 October by ADB Regional Lead Economist for the Central and West Asia Department Kiyoshi
IFC, a member of the World Bank Group, says it has signed an agreement with Ipak Yuli Bank to provide a syndicated loan of up to $42 million, aimed at increasing access to financing for smaller businesses and women entrepreneurs across Uzbekistan. With 25 percent of the funding earmarked for women-run businesses, this initiative is
On October 18-19, Decentrathon 2.0, Kazakhstan’s largest multi-location hackathon, will gather over 2,500 developers across 17 regions to compete for a $50,000 prize pool. Participants will tackle challenges in AI, Blockchain, GameDev, and Telegram mini apps. Additionally, a virtual job fair will offer developers the chance to connect with top companies and explore career opportunities
An Uzbek-Indian business forum was held in Tashkent on September 27 under the co-chairmanship of Deputy Prime Minister of Uzbekistan Jamshid Khojayev and Minister of Finance and Corporate Affairs of India Nirmala Sitharaman. The forum was also attended by Deputy Minister of Investment, Industry and Trade of Uzbekistan Shokhrukh Gulamov, as well as about 100
The Asian Infrastructure Investment Bank (AIIB) says it further solidified its long-standing partnership with Uzbekistan through a series of agreements signed at the Bank’s 9th Annual Meeting in Samarkand on September 25-26. The agreements follow the signing of a three-year rolling pipeline for sovereign-backed financed projects by Uzbekistan President Shavkat Mirziyoyev and AIIB President Jin Liqun in Beijing. This
The Asian Development Bank (ADB) says it has approved $32.35 million of additional financing for a rural water supply and sanitation development program in northern Kyrgyzstan that is already performing well. The additional financing will empower the government to continue rolling out its water program under the Kyrgyz Republic’s National Development Strategy, 2018–2040—which aims to
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for the Kyrgyz Republic, defining the Bank’s priorities in the country until 2029, the Bank has announced. The strategic approach to operations in the country will be based on the following three pillars: Support for private sector competitiveness and
Nikolai Podguzov, Chairman of the Management Board at the Eurasian Development Bank (EDB), spoke at the Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) in Samarkand on September 26 during the session titled New Uzbekistan – Big Country with Big Opportunities. The session was attended by Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade,
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
