The International Finance Corporation (IFC), a member of the World Bank Group, says it is deepening its support for micro and small enterprises (MSEs) in Kazakhstan, with a particular focus on women entrepreneurs and rural agribusinesses, by investing up to $50 million in KazMicroFinance (KMF), one of the country’s leading microfinance institutions. KMF operates 18
Kyrgyzstan’s Ministry of Finance on September 9 said that it signed the Credit and Grant Agreements with the World Bank on a $13.6 million additional financing for the Kambarata-1 Hydropower Plant (HPP) Project in Kyrgyzstan. Consisting of a $2.6 million grant and a $11 million loan, this additional funding will supplement the World Bank’s ongoing
On September 10, the Government of Kazakhstan approved a draft of the National Action Plan for the implementation of the President’s Address to the people of Kazakhstan, “Fair Kazakhstan: law and order, economic growth, social optimism,” delivered on September 2, the Government’s press service reported. The plan consists of 76 measures aimed at improving the
Representatives from the Eurasian Development Bank (EDB) took part in the Eurasian Mountain Resorts Alliance (EMRA) CEO Summit, which kicked off on September 9 in Almaty. The alliance unites leading mountain resorts from Central Asian countries. The summit’s highlight is the international expert and investment forum titled “The Almaty Mountain Cluster as the Backbone of
Maersk (Denmark), one of the world’s largest container shipping operators, has published shipping tariff rates for its rail-sea service along the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, Logistan reports. The Maersk service along the TITR, an international multimodal transport corridor with the length of 11,000 km, runs from China to
The Junda oil refinery has re-opened in the city of Kara-Balta, about 100 km west of Bishkek. Zhongda China Petrol Company’s Junda oil refinery resumed operation after a four-year shutdown from February 2020 to March 2024. Late in March this year, the refinery completed a major overhaul and now plans to reach its full annual
A plant for the assembly of China’s SHACMAN heavy trucks and special-purpose vehicles (concrete mixers) has opened in Kyrgyzstan’s capital, Bishkek. At the opening ceremony on August 30, the First Deputy Mayor of Bishkek Mirlanbek Baigonchokov said that the construction of the plant was an important contribution to the development of Kyrgyzstan’s automobile industry. An
The European Bank for Reconstruction and Development (EBRD) says it is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant. The EBRD is offering a financial package of US$ 65 million (€ 58
The Asian Development Bank (ADB) on August 28 launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green transition to a
The Asian Development Bank (ADB) on August 27 launched a new country partnership strategy for Uzbekistan covering 2024–2028 that will support the country’s reforms to transform into a green and inclusive economy. Under the new 5-year strategy, ADB will work closely with the Government of Uzbekistan to facilitate the central Asian nation’s transition to a green economy,
