Over €1 billion invested in the region last year
A record level of business in Uzbekistan in a single year, continued support for renewable projects in Kazakhstan and the launch of the EBRD Green Cities programme in Mongolia – these are just a few examples of the EBRD’s successful work in Central Asia in 2018.
Last year, we invested over €1 billion in 62 projects in the six countries of the region.
And there is more to come. #EBRDmore.
The EBRD is stepping up its investments and engagement in response to strong market demand for what the Bank can offer.
This includes bespoke financial products ranging from long-term equity investment to specific microfinance solutions as well as policy dialogue to create the strong institutions needed for successful long-term growth.
And we are closely aligning our activities with the 2030 Sustainable Development Goals with a focus on renewable energy and economic inclusion, where the EBRD is a pioneer in its regions.
The EBRD’s 2018 Central Asia Investment Forum in Beijing opened with a striking video highlighting how much the region has to offer investors – and how different it is from the popular imagination.
Only economies that benefit their people are successful economies. The EBRD is making a vital contribution to this effort, and here’s how.
- We supported Kazakhstan’s drive to secure its position as a regional renewable energy leader by channelling funds to a number of projects, including Kazakh tenge loans for three new solar plants.
- We extended loans to six infrastructure projects in Uzbekistan, worth a total of €333 million. These will improve water supply and district heating services in the capital city, Tashkent, and in the Khorezm and Namangan regions, and upgrade electricity transmission services in the Navoi region.
- The first project under our Integrated Cultural Heritage Framework was signed in Uzbekistan. An EBRD loan and EU grantwill upgrade hotels in the historic towns of Khiva and Khorezm, making the country more attractive to leisure and business travellers and creating growth opportunities for local businesses.
- We launched our Green Cities programme in Mongolia’s capital Ulaanbaatar, the first municipality in Asia to join. Ulaanbaatar will develop a Green City Action Plan with support from the EBRD as well as funding from South Korea and start to tackle pressing ecological and infrastructure challenges.
- A €6.5 million loan to the Bishkek Street Lighting Company will help the Kyrgyz capital modernise 400 kilometres of street lighting networks, most of which have been in use for more than half-a-century.
- The population of the Tajik capital Dushanbe will benefit from shorter travel times and state-of-the-art transport solutions following the opening of a new road interchange financed by an EBRD loan.
The EBRD is and will remain a relevant partner: financially strong, agile in our operations and flexible in our approach.
The EBRD remains available with its own finance and expertise to support the use of EU funds in a cost-effective and efficient manner. Our priority is to encourage and enable the dynamics of the private sector.
The EBRD has the means, the expertise and the commitment to move forward in all our existing regions. And our donors play a major role in our delivery, both with advice and with finance.
We are as diverse as our countries and as committed as its people: we are doing more to achieve more. #EBRDMore for more growth, more jobs, more prosperity.
Bruno Balvanera is EBRD Managing Director for Central Asia and as such oversees the Bank’s work in six countries.