In Xi’an (China), Yerzhan Yelekeyev, the Chairman of the Board of JSC National Company Kazakh Invest, took part in the opening ceremony of the office of Shaanxi Baosheng Silk Road Construction Engineering Co., Ltd, an independent partner of the national company in China. The Chinese company has opened a representative office within the framework of a cooperation
The Asian Development Bank (ADB) and Ipak Yuli Bank have signed a 625 billion Uzbek sum loan (equivalent to about $50 million) to enhance access to financing for urban micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan. A majority of loan proceeds will be allocated to support financial inclusion for MSMEs, 60% outside the capital
Climate action offers Tajikistan an opportunity to rejuvenate its economy and create jobs while protecting its people from the growing risks of extreme weather events induced by climate change, says the World Bank Group’s Tajikistan Country Climate and Development Report (CCDR), released on November 7. “Tajikistan is in urgent need of an economic reset that can help
Kazakhstan has signed eight commercial agreements worth $2.5 billion with Chinese companies, significantly enhancing bilateral economic relations between the two countries. The agreements were signed on November 4 during Kazakh Prime Minister Olzhas Bektenov’s visit to Shanghai, RFE/RL reported. The agreements support a broader strategy of the two countries to double trade turnover, which reached
Climate finance, infrastructure, agriculture, and micro and smaller businesses in Central Asia were just some of the areas that benefited from strong funding from IFC, a member of the World Bank Group, over the last fiscal year. The funds, coupled with advisory support, are helping to increase private sector participation, create jobs, boost financial inclusion,
On November 1, the VII Kazakhstan Global Investment Roundtable (KGIR-2024) was held in Astana under the “Global Investment Trends: A Vision of the Future” agenda. Speaking at the forum, Kazakhstan Prime Minister Olzhas Bektenov noted that the roundtable is a logical continuation of the meeting of the Foreign Investors’ Council, which was held the day
The European Bank for Reconstruction and Development (EBRD) says it is helping Uzbekistan to further decrease its reliance on carbon-intensive thermal-power generation and will facilitate the country’s transition to a low-carbon economy by providing funds to construct a solar plant in the Khorezm region of the country. The EBRD’s financial package of up to US$ 54.6 million
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $240 million Islamic Equity Bridge Loan (EBL) financing for ACWA Power to support the development of Uzbekistan’s renewable energy sector. IFC’s financing will support the construction and operation of two projects, with a cumulative capacity of a 1-gigawatt solar PV
The Asian Development Bank (ADB) has approved a sovereign-guaranteed local currency loan of up to $291.49 million equivalent to KazAvtoZhol National Company to reconstruct 208 kilometers of road in central Kazakhstan that will improve domestic and regional connectivity, road safety, and promote national and international trade. The ADB project will upgrade the existing two-lane highway
The European Bank for Reconstruction and Development (EBRD) announced that its President, Odile Renaud-Basso, will visit Kazakhstan from 31 October to 1 November for meetings with senior government officials and multilateral financial institutions. During her two-day program, the EBRD President will meet with Kazakhstan’s President Kassym-Jomart Tokayev, hold a bilateral meeting with the leadership of the Asian Development Bank
The Ministry of Economy and Commerce of the Kyrgyz Republic on October 27 hosted the E-Commerce Expo 2024, a milestone event aimed at accelerating digital transformation across Central Asia. Organized with the support of the United Nations Development Programme (UNDP), the event attracted over 600 participants, including business leaders, government officials, entrepreneurs, and representatives from international
The first meeting of the Kazakhstan-Mongolian Business Council was held in Ulaanbaatar with the participation of Minister of Digital Development of Kazakhstan Zhaslan Madiyev, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan Gabidulla Ospankulov and representatives of the business community of the two countries, Kazakh Invest reported. Speaking at the meeting, Ospankulov informed the participants
On October 24, Prime Minister of Kazakhstan Olzhas Bektenov inspected the construction of a light rail transport (LRT) line in the capital, Astana, the government’s press service reported. Akim (Mayor) of Astana Zhenis Kasymbek reported that to date, the laying of the beams of the LRT flyover has been completed. By the end of 2024,
In October 2024, the Eurasian Development Bank’s (EDB) Fund for Digital Initiatives allocated the first tranche for a project to establish a National Digital Investment Platform in Kazakhstan. The project aligns with the digital agenda of EDB member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan, aiming to accelerate the development of the digital
Digitalization of customs administration and cargo transportation is becoming a key priority for Kazakhstan as it seeks to strengthen its position in the international arena and become a leading player in the Eurasian Economic Union (EAEU). Effective digitalization and integration with international trade routes can provide Kazakhstan with significant economic advantages, Rosreporter writes in an
According to the Kazakh Ministry of Agriculture, this year the total area of agricultural crops in Kazakhstan was 23.3 million hectares, of which 16.7 million hectares were sown with cereals. To date, field work is 99.7% complete and 26.5 million tons of grain have been threshed. At the Government session on October 23, Deputy Minister
The Asian Development Bank (ADB) has approved a $86.67 million grant to help Tajikistan further improve national road connectivity by developing a demonstration green corridor in the country. The project will upgrade the existing degraded two lane 49-kilometer Dangara–Guliston road, widening this to four lanes. The project is the first to pilot the innovative methods promoted in
Kazakhstan’s longest bridge was opened in East Kazakhstan Region on October 21 across the Bukhtarma reservoir. The two-lane automobile bridge is 1,316 meters long, and up to 80,000 vehicles can pass through it per day. At a meeting with local residents at the opening ceremony, Prime Minister Olzhas Bektenov said that the new bridge, which
On October 21, Uzbekistan President Shavkat Mirziyoyev attended a presentation of projects for recycling household waste and producing electricity and products from it, the president’s press service reported. Uzbekistan generates 14 million tons of waste annually. However, only 4-5 percent of it is recycled. Over 7 million tons of greenhouse gases and 43 thousand tons
The United States Agency for International Development (USAID) sponsored the fourth International Khatlon Invest and Bokhtar Food Forum–2024 from October 17 to 18 in Tajikistan’s Khatlon region. Co-hosted by the Khatlon Regional Government and the Export Development Agency of Tajikistan, and other international partners, this event enhanced regional trade and connectivity across Central Asia and
