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
On October 31, Kazakhstan President Kassym-Jomart Tokayev chaired the 36th meeting of the Foreign Investors’ Council in Astana. Tokayev noted that the Council has become the most important dialogue platform for discussing issues of improving the investment climate in the country. “We have set ourselves a rather ambitious goal – to attract an additional $150
The European Bank for Reconstruction and Development (EBRD) says it is helping Uzbekistan to further decrease its reliance on carbon-intensive thermal-power generation and will facilitate the country’s transition to a low-carbon economy by providing funds to construct a solar plant in the Khorezm region of the country. The EBRD’s financial package of up to US$ 54.6 million
The European Bank for Reconstruction and Development (EBRD) says it is helping to introduce a public-private partnership (PPP) model to Kazakhstan’s healthcare-sector by arranging a financing package of €365 million provided by six financial institutions for the construction and operation of a 630-bed multidisciplinary hospital in the city of Kokshetau. The financing, including the EBRD’s own
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 European Union says it is launching a new four-year project to strengthen engagement with civil society organizations (CSOs) in Central Asia, in partnership with the United Nations Office for Project Services (UNOPS), and in collaboration with the UN Resident Coordinators’ and national governments. The project, which will be coordinated by a regional project team
Kyrgyzstan President Sadyr Japarov says he plans to revise the country’s national anthem to adequately represent the “evolving” identity of the nation, RFE/RL’s Kyrgyz Service reported. Japarov said in an interview with the Kabar news outlet on October 30 that he believes the current anthem, adopted 33 years ago, fails to inspire patriotism and unity, and does not
The government of Kyrgyzstan has introduced a visa-free entry for organized tourist groups from China for up to 21 days. This was announced by Deputy Chairman of the Kyrgyz Cabinet of Ministers, Edil Baisalov at the 11th China-Central Asia Cooperation Forum, which was held in Yinchuan, Ningxia Hui Autonomous Region, China on October 28. The
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
Kazakhstan’s national soccer team coach Stanislav Cherchesov, a Russian national, has been fined by the national federation for making an insensitive comment regarding the Kazakh language, RFE/RL’s Kazakh Service reported. The incident occurred earlier this month, when Cherchesov responded to a reporter’s question in Kazakh with a joke comparing the language to French, sparking public outrage.
President of Kazakhstan Kassym-Jomart Tokayev paid a state visit to Mongolia from October 28 to 29. Tokayev held talks with President of Mongolia Ukhnaa Khurelsukh, after which the two leaders signed a Joint Declaration on Strategic Partnership between their countries. Kazakhstan and Mongolia decided to deepen their cooperation in the following five main areas: 1.
The official project launch conference of the EU-funded project “EU-Tabassum: Media Skills to Promote Gender Equality and Empower Young Women in Uzbekistan” was held in Tashkent with the participation of representatives from the Government of Uzbekistan, the Embassies of the EU Member States in Uzbekistan, NGOs, international and donor organisations, and mass media companies, the Delegation of the European
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
On October 27, Uzbekistan held elections of the Legislative Chamber, the lower house of the country’s parliament. On October 28, the Central Election Commission announced preliminary results of the vote, saying that the voter turnout was 74.72%, or 15,027,529 people. Five political parties registered in Uzbekistan participated in the elections: the Liberal Democratic Party, the
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, the UN General Assembly adopted the resolution “Zone of Peace, Trust and Cooperation of Central Asia,” initiated by Turkmenistan, the Turkmen Foreign Ministry said. Presenting the resolution, Permanent Representative of Turkmenistan to the UN A. Atayeva expressed gratitude to the UN Member States for supporting the draft resolution initiated by Turkmenistan, as
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,
On October 24, a ceremony took place in Almaty to launch the production of innovative drugs by the Swiss pharmaceutical giant F. Hoffmann-La Roche Ltd. (Roche) in partnership with Nobel Almaty Pharmaceutical Factory JSC (Nobel AFF), Kazakh Invest reported. The investment project to localize production was implemented based on an agreement between Roche, SK-Pharmacy LLP, Nobel AFF, and
