The three largest economies — Kazakhstan, Uzbekistan and Turkmenistan — account for 95% of Central Asia’s total GDP and are net exporters of hydrocarbons, says Eurasian Development Bank (EDB) in the reports titled “Macroeconomic Forecasts 2025-2027”. In 2024, Central Asia’s nominal GDP could exceed $500bn. According to our estimates, it will increase by more than […]
The EDB: Further enhancing the petrochemical industry is a natural economic policy priority for Eurasian countries
Almaty, April 2024. The petrochemical industry in the Eurasian region is developing rapidly. Over the past six years, the total production of basic polymers (polyethylene, polypropylene, polyvinyl chloride, polystyrene, polyethylene terephthalate and synthetic rubber) has increased by 1.5 times, rising from 5.8 million tonnes in 2017 to 8.4 million tonnes in 2022. By 2025, unlocking […]
EDB will provide USD 600 million of investment for renewables over next three years
The EDB (Eurasian Development Bank) has decided to invest USD 600 million in the renewable energy projects during the next three years. The announcement was by Albrecht Conrad, Head of the EDB Directorate of Sustainable Development, at the UNECE Regional Forum on Sustainable Development in Geneva, says a press release of EDB. Conrad said, “With […]
Climate change – Central Asia is united at various platforms including CAREC
Central Asia is fully conscious of the challenges posed by the climate change, global warming and related complications. The region is united for the sake of the shared future. Regional Environmental Center for Central Asia (CAREC) is among the various platforms that bring the countries of Central Asia together for dealing with issues related to […]
The EDB to foster Islamic finance in Central Asia
The Eurasian Development Bank (EDB) intends to become a platform for the development of Islamic finance in Central Asian countries. On the sidelines of the Annual Meeting of the Islamic Development Bank Group, senior executives from the EDB and the Islamic Development Bank (IsDB) discussed the potential of Islamic financing in the region, fostering collaboration […]
The EDB to channel most of its investment in Kazakhstan’s projects in 2023
Kassym-Jomart Tokayev, President of Kazakhstan, met with the head of the Eurasian Development Bank (EDB) Nikolai Podguzov. In 2023, the Bank plans to invest over US $1.1 billion in Kazakhstan and promote international investment in Kazakhstan’s projects. The priority sectors are transport infrastructure and logistics, manufacturing, agriculture, green energy and water resources. Nikolai Podguzov said […]
Eurasian Congress: Energy and water integration in Central Asia under the spotlight
Elvira Kadyrova How to create a unified management system for the water and energy complex of Central Asia and how to maximize the opportunities for joint operation of the energy systems of the countries of the region – these and other issues were discussed during the panel session “Efficient water and energy complex – the […]