EBRD Boosting Investment in Central Asia: Focus on Private Business and Infrastructure
EBRD Invests Record-Breaking Amount in Central Asia, Focuses on Sustainable Energy and Infrastructure Projects
ASTANA – The European Bank for Reconstruction and Development (EBRD) is gearing up for a landmark year of investments in Central Asia, with a strong emphasis on sustainable energy and infrastructure projects. In a recent interview with The Astana Times, EBRD Acting Managing Director for Central Asia Hüseyin Özhan shared the bank’s ambitious plans to support the region’s economic growth.
Despite facing challenges in 2024, Özhan remains optimistic about the future, pointing out that the EBRD has seen increased impact and a growing number of projects. The bank has already signed 86 projects in Central Asia this year, totaling investments close to 1.4 billion euros (US$1.56 billion).
“These numbers indicate that we might actually have a record year in terms of total investments in Central Asia,” said Özhan.
The EBRD’s investments in 2024 have already surpassed the results of the entire previous year, with more than 1.2 billion euros (US$1.3 billion) invested in over 100 projects in the region. The bank’s success can be attributed to strong cooperation with national authorities across Central Asia and improvements in the investment climate.
A significant portion of the EBRD’s projects in the region are in the private sector, with nearly 60% of investments focused on green initiatives. Özhan highlighted key projects signed in 2024, including those in Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan, and Mongolia.
In Uzbekistan, the EBRD financed the Tashkent Solar project, featuring the largest battery storage system in Central Asia and the Commonwealth of Independent States. The bank also supported a hydrogen project in Uzbekistan, marking a milestone for renewable energy in the region.
Tajikistan saw progress with the inauguration of upgraded power-generating units at the Qairokkum Hydropower Plant, a crucial step in the country’s energy modernization efforts.
In Kazakhstan, the EBRD has allocated over 10.3 billion euros (US$11.5 billion) across 327 projects, with a focus on promoting private entrepreneurship. The bank has funded 15 projects in 2024 alone, totaling more than 463 million euros (US$518 million).
Özhan highlighted key investments in Kazakhstan, including shares in Air Astana, financing for a wastewater treatment plant in Aktobe, support for Araltuz, and contributions to the new international terminal at Almaty airport.
Looking ahead, Özhan emphasized the importance of renewable energy, infrastructure, and critical raw materials in Central Asia. The EBRD sees great potential in sectors like renewables, infrastructure projects, and critical raw materials, with a focus on supporting private businesses and public-private partnerships.
The bank is committed to driving sustainable development and economic growth in Central Asia through innovative investments and partnerships, paving the way for a more resilient and prosperous future for the region.
