The Eurasian Development Bank (EDB) and Eurasian Logistics Park LLP have signed a loan agreement for the construction of a Class A industrial and logistics complex in the Almaty region of Kazakhstan. The loan amounts to 16.6 billion tenge. The project provides for the construction of two modern warehouse buildings with a total area of 50
On December 5, the Eurasian Development Bank (EDB) and the Cabinet of Ministers of the Kyrgyz Republic signed an agreement on the provision of technical assistance for the Bishkek—Kuntuu—Belogorka—Suusamyr Highway Construction project. The technical assistance project includes the development of a preliminary feasibility study for the construction of an alternative highway that will connect Bishkek with
The European Bank for Reconstruction and Development (EBRD) says it is contributing to greater energy security in Kazakhstan and helping to improve the reliability of its power supply system by arranging €267 million in financing for the Kazakhstan Electricity Grid Operating Company (KEGOC). The financial package consists of a Bank loan of up to €252 million and a concessional
The Asian Development Bank (ADB) has approved a $22.58 million small expenditure financing facility (SEFF) that will support activities to boost project readiness and make project implementation more efficient and sustainable in Kyrgyzstan. The financing includes a $13.36 million concessional loan and a $9.22 million grant from the Asian Development Fund. It will fund project preparatory
On November 29, at the Uzbek Ministry of Investment, Industry and Trade, the Investment Agreement for the construction of a 300 MW solar power plant and a 75 MW energy storage system in the Karmana district of the Navoi region of Uzbekistan was signed. The ceremony was attended by Laziz Kudratov, Minister of Investment, Industry
On November 28, an Uzbek-Turkish business forum was held in Tashkent as part of the visit of a delegation of Turkish business circles headed by Chairman of the Ostim united industrial zone Orhan Aydin. It was attended by Uzbek Deputy Minister of Investment, Industry and Trade Akram Aliyev and heads of more than 200 large
Kyrgyzstan and German companies have signed an investment agreement on a project to build and operate two floating solar power plants on the surface of the reservoir of Kyrgyzstan’s largest Toktogul hydroelectric power plant. The agreement was signed on November 26 between the Kyrgyz Cabinet of Ministers and Sonnenenergie, a.s., AB Progressio GmbH, and LTI
On November 27, Uzbekistan President Shavkat Mirziyoyev chaired a meeting to discuss the current state of attracting foreign investment and plans for the next year. It was stated at the meeting that over the past 10 months, Uzbekistan has attracted more than $26 billion in foreign investment, a 1.7-fold increase compared to last year. These
Kazakhstan’s national railway company Kazakhstan Temir Zholy (KTZ) has announced that the first return container train along the Trans-Caspian International Transport Route (TITR) departed on November 24 from Baku, Azerbaijan to Xi’an, China via Kazakhstan. The train, consisting of 62 containers with petroleum coke, will travel along the TITR after reverse loading and will return
The European Bank for Reconstruction and Development (EBRD) says it is helping one of Uzbekistan’s first digital financial institutions, TBC Bank Uzbekistan (TBC UZ), to expand its services and provide lending to micro and youth-led or owned businesses as well as women entrepreneurs across the country. A senior loan of up to US$10 million (€9.1 million equivalent)
On November 22, Tashkent hosted the opening of the regional office of the Export-Import Bank of China (China Exim Bank). The ceremony was attended by Yang Dongning, Vice President of China Exim Bank; Yu Jun, Ambassador of China to Uzbekistan; Ilzat Kasimov, Deputy Minister of Investment, Industry, and Trade of Uzbekistan; and representatives from the business
Chairman of the Management Board of JSC National Company Kazakh Invest Yerzhan Yelekeyev held a meeting with Li Yantao, the founder of Qingdao Wanlin Food Co., Ltd, to discuss the company’s plans to build a plant for the production of dehydrated onions in Kazakhstan. Wanlin specializes in the production of food products, particularly deep processing of agricultural products. Wanlin representatives
To create a Horse Breeding Institute in Kazakhstan in the shortest possible time was a task set by President Kassym-Jomart Tokayev at the first forum of agricultural workers, held on November 15 in Astana. Fulfilling the task, the Kazakh Research Institute of Horse Breeding and Forage Production has been established in Aktobe, the Ministry of
The Asian Development Bank (ADB) has approved a $250 million policy-based loan to support the Government of Uzbekistan’s efforts to strengthen institutional frameworks for climate transition, enhance links and interaction of climate change adaptation priorities, and accelerate climate change mitigation actions. The Accelerating the Climate Transition Program will support the Government of Uzbekistan in three reform areas:
Turkmenistan remains the only state in Central Asia with no free economic zones operating in the country. Although the Law on Free Economic Zones (FEZs) was enacted in Turkmenistan in October 2017, no free economic zones are known to be in operation, according to the U.S. Department of State’s 2024 Investment Climate Statements: Turkmenistan. The
On November 13, Kazakhstan’s Prime Minister Olzhas Bektenov held a government meeting on the development of the industry of rare and rare earth metals. Kazakhstan is home to one of the world’s three full-cycle plants for the production of beryllium and scandium, and one of the world’s four tantalum and niobium production facilities. According to
On November 12, Kazakhstan’s Prime Minister Olzhas Bektenov took part in the opening of Korkyt Ata airport’s new terminal in Kyzylorda. The launch of the new terminal will increase the capacity of the air harbour from 300 thousand to 2 million passengers per year. The renovated Korkyt Ata terminal meets the high standards of the
The Asian Development Bank (ADB) and the Government of Kazakhstan have moved a step closer toward the possible early retirement of a coal plant in Kazakhstan under the bank’s Energy Transition Mechanism (ETM) program. Under a memorandum of understanding (MOU) signed at COP29 by ADB and Kazakhstan’s Ministry of Energy, the two sides will work toward a
The parties signed the relevant agreement at the UN Climate Change Conference (COP29) held in Baku. Kazakh Deputy Prime Minister and Minister of National Economy Nurlan Baybazarov noted that this is the largest project financed by the Islamic Development Bank in its history, the press service of the Kazakh Government reported. In addition, the Islamic Development
On November 10-11, a delegation from Uzbekistan, led by Minister of Investment, Industry, and Trade Laziz Kudratov, visited Qatar. The Uzbek delegation participated in the inaugural meeting of the Intergovernmental Commission on Economic Cooperation and attended the Uzbek-Qatari Business Forum, engaging in discussions with leaders from Qatar’s key companies. In his opening remarks at the Commission
