Aziz Abdukhakimov, Adviser to the President of Uzbekistan on environmental issues and Chairman of the National Committee on Ecology and Climate Change, held a series of meetings reviewing the implementation of projects for the incineration of municipal solid waste for electricity generation. According to the National Committee, the discussions were held with representatives of Chinese
Kazakhstan has marked 10 years of membership in the World Trade Organization (WTO). Over this period, the country’s exports increased from USD 46 billion to USD 82 billion, while foreign trade nearly doubled — from USD 76 billion to USD 142 billion. Kazakhstan’s gross domestic product grew by more than USD 100 billion during its
The International Fund for Agricultural Development (IFAD) and Bank Arvand have signed a grant agreement to invest approximately €445,000 in a new initiative empowering people in rural Tajikistan to transform remittance flows from relatives abroad into sustainable economic opportunities. The REMIT PRIME Central Asia Programme brings together IFAD, the European Union, and other lenders to increase access to remittances and build
The European Bank for Reconstruction and Development (EBRD) says it is providing a loan of up to €25 million to Orzax Central Asia – a newly established subsidiary of Orzax Türkiye – for the construction and operation of a greenfield food supplement production facility in the Turkestan region of Kazakhstan. The new facility will be Orzax Türkiye’s
The Asian Development Bank (ADB) and Eskhata Bank Open Joint Stock Company have signed agreements to strengthen access to green finance for Tajikistan’s micro, small, and medium-sized enterprises (MSMEs)—essential drivers of job creation and inclusive economic growth. Under the agreements, ADB will provide a local currency loan equivalent to $10 million to Eskhata Bank, boosting the bank’s
As a result of the official visit of Kazakhstan President Kassym-Jomart Tokayev to Japan and the Central Asia–Japan Business Forum on December 20, more than 60 documents were signed between Kazakh and Japanese business entities, totaling $3.72 billion, according to Kazakh Invest. Baiterek National Managing Holding JSC and Japan’s MUFG Bank, Ltd. signed a memorandum
As part of his official visit to Japan, President of Uzbekistan Shavkat Mirziyoyev on December 19 held a meeting with the heads of leading Japanese companies, financial institutions, and business associations. The event was attended by Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa, as well as top managers of Sojitz, Sumitomo, Toyota, ITOCHU,
The World Bank’s Board of Executive Directors has approved a $100 million loan and a $5 million grant for Uzbekistan to implement the Access to Finance for Jobs and Growth Project (FINGROW). It will expand access to credit and private equity financing for capital-constrained micro, small, and medium enterprises (MSMEs). In Uzbekistan, MSMEs account for over
Kazakhstan’s Ministry of Water Resources and Irrigation has signed a memorandum of cooperation with a consortium of Chinese companies Yellow River Engineering Consulting Co. Ltd., Leture Technology and Cheng Cheng Group for the construction of a plant to produce smart technologies for water resource management and irrigation systems in the southern Kazakh city of Taraz.
The Eurasian Development Bank (EDB) has released a new report as part of its flagship project Monitoring of Mutual Investments. New data show that investment activity in the Eurasian region continues to expand despite the global decline in foreign direct investment (FDI). Mutual FDI between the region’s countries reached a record US $48.4 billion at the
On December 16, under the chairmanship of President Shavkat Mirziyoyev, a meeting was held dedicated to the comprehensive socio-economic development of Tashkent, improving the urban environment, and creating decent living conditions for its population. It was noted that Tashkent has undergone significant changes in recent years. Over the past nine years, more than $20 billion
The World Bank’s Board of Executive Directors has approved a $250 million financing package for Uzbekistan to improve municipal infrastructure and services for residents and businesses in 16 districts and cities across the country through the Livable and Productive Cities Program (LPCP). Over half of Uzbekistan’s 37 million people live in cities, a share expected to
On December 15, President Shavkat Mirziyoyev was briefed on the ongoing work in the water management sector to increase energy efficiency, develop research potential, and strengthen international cooperation. Plans to replace outdated and energy-intensive pumping units with modern, energy-efficient ones, were reviewed. For instance, in Karakalpakstan, there are 274 pumping stations that irrigate over 185
Kazakhstan has prepared an Export Roadmap for Processed Oilseed Products for 2026–2028. According to the Ministry of Agriculture, the Roadmap includes steps to expand the raw material base, modernize processing plants, develop logistics, and support farmers. The main goal is to increase the export of processed oilseed products—sunflower oil and sunflower millcake, an important component
Kazakhstan is launching an export hub in Southeast Asia. The national export development institute QazTrade and the Malaysian company Kaztera have signed a memorandum of cooperation under which Kaztera received the status of the official operator for promoting Made in Kazakhstan products in the ASEAN market. This partnership gives Kazakhstan direct access to one of
Afghanistan’s economy is expanding for the second consecutive year, supported by low inflation and stronger revenues. However, rapid population growth, a widening trade deficit, and persistent poverty continue to weigh on the country’s outlook, according to the World Bank’s latest Afghanistan Development Update. The report provides a comprehensive assessment of recent economic developments and the medium-term
The European Bank for Reconstruction and Development (EBRD) says it is extending a loan of up to US$ 70 million (€60 million) to Hamkorbank, a major private lender in Uzbekistan. Provided in the synthetic local currency, the loan will be used to support micro, small and medium-sized enterprises (MSMEs) across the country. MSMEs create about
At a Government session on December 9 chaired by Prime Minister of Kazakhstan Olzhas Bektenov, the current water management situation was reviewed. Deputy Prime Minister Kanat Bozumbayev reported on the risks of the upcoming growing season and the preventive measures to ensure irrigation water supply for farmers. He reported on the results of working trips
On December 9, President Shavkat Mirziyoyev reviewed plans on financing for cotton and grain cultivation, as well as a new subsidy system for the agriculture sector. A total of 34.2 trillion soums is planned for the cotton and grain cultivation, subsidies and other expenses next year. Additionally, there are plans to attract an extra $200
SOCAR (State Oil Company of the Azerbaijan Republic) and Uzbekneftegaz, Uzbekistan’s oil and gas company have launched a joint exploration project in the Ustyurt region in Uzbekistan’s Karakalpakstan. The Production Sharing Agreement (PSA) for the exploration, development, and production in the Ustyurt investment blocks (Boyterak, Terenqquduq, Birgori, Kharoy, Korakalpok, and Kulboy) was signed in July