To expand access to finance for underserved entrepreneurs, IFC—a member of the World Bank Group—and DAVR-BANK have signed a $40 million loan agreement to boost lending to micro and small enterprises (MSEs) across Uzbekistan, with a focus on women-led businesses. The initiative aims to promote inclusive economic growth, empower small entrepreneurs, and create jobs. The
Madiyar Sultanbek, Deputy Chairman of the Management Board of Kazakh Invest national company held a meeting with Yeonsu Oh, Chairman of the Board of Directors of the South Korean company Microbus Co., Ltd. The parties discussed opportunities for the establishment of a modern industrial park K-Smart, which will integrate manufacturing, logistics, and educational functions; the development of
The European Bank for Reconstruction and Development (EBRD) is contributing to the development of green energy infrastructure and Uzbekistan’s long-term decarbonisation goals by supporting the operations of Techno Cable Group (TCG), which specialises in the manufacturing of copper and aluminium electrical cables used in the electricity infrastructure and renewable energy projects. TCG, which currently produces
The European Bank for Reconstruction and Development (EBRD) expects the Central Asian economies of Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan to grow by 6.1 per cent on average in 2025, according to its latest Regional Economic Prospects report, published on September 25. This solid growth is supported by strong industrial output, robust domestic demand, investment,
The government of Kazakhstan and the Global Methane Hub on September 24 signed a Memorandum of Understanding to strengthen cooperation in reducing methane emissions through national planning, monitoring, and regulations. The agreement underscores Kazakhstan’s commitment to identifying and mitigating methane emissions across all sectors, beginning with large-scale methane leaks in its oil and gas operations.
A ceremony was held in Astana on September 24 to launch the construction of an integrated agro-industrial complex for deep processing of grain and legumes. The event was attended by Minister of Agriculture Aydarbek Saparov, Mayor of Astana Zhenis Kassymbek, and Deputy Minister of Foreign Affairs Alibek Kuantyrov. The project is being implemented by Kazak
Tajikistan has achieved remarkable progress in reducing poverty over the past decade, according to a new World Bank report. The Tajikistan Poverty and Equity Assessment says the national poverty rate declined from 56% in 2010 to about 20% in 2024. Over the same period, the share of the middle class increased more than fourfold, from 8% to
A meeting was held in New York (USA) on September 22 between Askhat Khassenov, Chairman of the Management Board of Kazakhstan’s national oil and gas company KazMunayGas (KMG), and the leadership of U.S.-based technology company LanzaJet — CEO Jimmy Samartzis and Vice President of Commercial Operations Stefan Tiyon. The parties reviewed the results of the
Kazakhstan has for the first time exported 50 tons of wheat flour to the U.S. According to Kazakhstan’s QazTrade Center for Trade Policy Development, Kazakh flour is already available on Amazon and Walmart under the Eurasian Legacy brand. On Amazon, the product is priced at $14.50 per 1.36 kg package and is positioned as
Boeing and Uzbekistan Airways on September 22 announced the single largest order in the airline’s history as the flag carrier plans to acquire up to 22 787 Dreamliners. Uzbekistan Airways’ purchase of 14 787-9 airplanes, with options for eight more of the ultra-efficient jets, will modernize its Boeing widebody fleet while supporting nearly 35,000 U.S.
Kazakhstan will soon have access to high-speed internet in areas currently lacking service, thanks to a new agreement announced on September 22 between Amazon’s Project Kuiper and Kazakhtelecom, Kazakhstan’s telecommunications operator. The partnership will bring high-speed satellite internet to communities throughout Kazakhstan, marking a significant step in bridging the digital divide in Central Asia’s largest
Kazakhstan Temir Zholy (KTZ), the country’s national railway company, and the American company Wabtec have signed an agreement for the supply of the new TE33AT series of locomotives, manufactured in Kazakhstan at the Lokomotiv Kurastyru Zauyty plant in Astana. Service agreements covering the maintenance of new and existing locomotives were also signed as part of
The Eurasian Development Bank (EDB) and ORTA ASYA Investment Holding have announced the launch of a strategic partnership to jointly implement large-scale hydropower projects in Kyrgyzstan. The parties have agreed to cooperate in developing a feasibility study for the Suusamyr-Kokomeren HPP cascade project, which is being financed by the Eurasian Development Bank, and have signed
On September 17, the III International forum “From poverty to prosperity” started in the city of Namangan. President of Uzbekistan Shavkat Mirziyoyev addressed the opening ceremony. The president said that the fight against poverty has been lifted to the ranks of state policy in Uzbekistan. Thanks to the consistent reforms 7.5 million people have been
On September 17, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Gabidulla Ospankulov held a meeting with Chairman of the Board of the Chinese company Cheng Tian Run Kang Medical Limited, Li Shu-he. The investor expressed an intention to implement a project in Kazakhstan on the cultivation and processing of
Kyrgyzstan’s Ministry of Finance has teamed up with local banks for implementing the “Improving Air Quality” project, aimed at supporting the transition of Kyrgyzstani households from coal heating to modern and environmentally friendly types of heating homes. The project received $50 million financing from the International Development Association. $31.8 million of that amount will be
In March last year, President Shavkat Mirziyoyev gave start to the construction of new power plants in Namangan region. On September 16, the first hydropower plant of the Naryn HPP cascade was put into operation. The development of renewable energy sources is determined as a strategic direction for ensuring sustainability of the national economy. In
On September 16, a ceremony was held to sign the investment agreement and lay the foundation stone for Carlsberg Kazakhstan’s new non-alcoholic beverages plant. The event was attended by Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Gabidulla Ospankulov, and senior management of Carlsberg Group and PepsiCo. Ospankulov noted that
The Asian Development Bank (ADB) has approved a sovereign-guaranteed loan of $400 million equivalent to KazAvtoZhol National Company JSC for the construction of a new road in southern Kazakhstan. The project aims to enhance regional connectivity, enhance transport efficiency, facilitate cross-border trade flows, and improve road safety. “The Saryagash Bypass Road will strengthen Kazakhstan’s trade
Work on the establishment of protective forest plantations is ongoing in the regions of Uzbekistan. During the current year, 17 state forestry enterprises have established protective forest plantations covering a total area of 776 hectares. In particular, this work was carried out by the Andijan, Khorezm, Shurtan, Navoi, Navbahor, Akhangaran, and Kizirik state forestry enterprises,
