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Mobilising private capital via financial markets in Central Asia: rising to the challenge

By EBRD multimedia team

English and Russian Simultaneous Interpretation is available for this event through the Interactio app

Opening local financial markets to international capital while ensuring economies remain resilient to global pressures is a fundamental challenge. Last year, emerging economies were reminded of the vulnerabilities associated with investment flow volatility as surging global interest rates and the dollar’s rapid appreciation led to the withdrawal of a record US$ 70 billion from emerging-market bond funds in the first three quarters of 2022.

Successfully balancing the increased role of capital and financial markets while maintaining economic stability requires well-sequenced and well-designed reforms focused on broadening both foreign and local investor bases.

The panel will bring together key officials and leading private and international financial institution (IFI) practitioners to discuss the building blocks of a resilient financial market and what efforts are being made by the governments of Central Asia and beyond to improve banking sectors, legal and regulatory frameworks, the use of local currencies, capital-market infrastructure resilience and regional financial-market integration.


  • Alex Pivovarsky, Director, Capital and Financial Markets Development, EBRD


  • Axel van Nederveen, Managing Director, Treasurer, EBRD
  • Ravshan Kadirov, Head of Treasury, Asakabank
  • Archil Mestvirishvili, Acting Governor, National Bank of Georgia
  • Behzod Hamraev, Deputy Chairman, Central Bank of Uzbekistan
  • Ruurd J. Brouwer, Chief Executive Officer, TCX
  • Nurzhan Tursunkhanov, Director of Monetary Operations, National Bank of Kazakhstan
  • Katarína Mathernová, Deputy Director General, European Commission
  • Jason Zullo, Director, Corporate Banking, Central Asia & the Caucasus Head, Citibank

Media usage

If you would like a broadcast-quality version of this or any other EBRD video, including B-roll, please contact our communications department by email or on +44 207 338 6325

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