#EBRDmore: doing more in Central Asia

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, EBRD invested over €1 billion in 62 projects in the six countries of the region. And there is more to come.

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 EBRD is closely aligning its activities with the 2030 Sustainable Development Goals with a focus on renewable energy and economic inclusion.

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.
• 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 its operations and flexible in approach.

Original source: EBRD
Published on 25 April 2019