Eurasian Development Bank’s Post

Today, I had the honour of meeting with Kazakhstan’s Prime Minister Olzhas Bektenov to discuss the Eurasian Development Bank’s continued involvement in infrastructure projects that are essential to driving the country’s economic growth. Since the beginning of the year, EDB has financed over $900 million in investment projects across various sectors in #Kazakhstan. By the end of the year, we expect this figure to rise to $1.4–$1.6 billion, underscoring our strong commitment to supporting the region. Our investment portfolio in Kazakhstan encompasses key projects, including the implementation of advanced coal mining technologies, the construction of solar power plants, the reconstruction and expansion of the Astrakhan-Mangyshlakmain water pipeline, and the construction and reconstruction of highways. These initiatives not only strengthen Kazakhstan’s #infrastructure but also contribute to the sustainable economic development of #CentralAsia’s largest economy and the broader region. Olzhas Bektenov emphasised Kazakhstan's readiness to expand cooperation with the EDB on mutually beneficial terms and collaborate on projects that are vital to the country’s economy. The EDB is equally committed to strengthening this partnership and supporting these critical initiatives through off-budget financing and strategic alliances. I would like to thank Prime Minister Olzhas Bektenov for recognising the #EDB as a key partner in Kazakhstan’s development journey. We remain committed to enhancing our collaboration and driving forward projects that will have a lasting impact on the region’s economic landscape. #EurasianDevelopmentBank #Investments #sustainabledevelopment

Another important meeting in #Kazakhstan devoted to our investment plans. We always keep our finger on the pulse and check with the needs and challenges of our countries in order to realise the most demanded projects. #centralasia #sustainability #investing

Today, I had a meeting with Olzhas Bektenov, Kazakhstan’s Prime Minister, where we discussed the prospects of amplifying the Bank’s investments in projects in Kazakhstan. The Prime Minister underscored the importance of investment in large-scale infrastructure initiatives outlined by the Head of State, which encompass the development of roads, housing construction, utility upgrades, and the advancement of gasification efforts. We understand the nation’s priorities and challenges and plan to invest a minimum of US $1 billion in 2024 towards #Kazakhstan’s initiatives aimed at constructing and modernising transportation and social infrastructure and fostering industries, green energy, agriculture and environmental improvements. Over the past year, Kazakhstan's share in the Eurasian Development Bank’s annual investment has increased to 59%. Expansions in our portfolio include projects such as polypropylene production, the procurement of diesel locomotives, and the construction of wind farms in the Kostanay Region, among others. I am glad that both we and the Government of Kazakhstan recognise the potential for enhancing the Bank’s investments for the benefit of the nation and entire #CentralAsia. #sustainabledevelopment #MDB #DFI #infrastructureinvestment

Asian Infrastructure Investment Bank (AIIB) and Kazakhstan Strengthen Cooperation on Sustainable Infrastructure Development Ahead of the Ninth Annual Meeting of the Asian Infrastructure Investment Bank’s (AIIB) Board of Governors in Uzbekistan, AIIB and the Government of Kazakhstan have committed to expanding cooperation to promote sustainable infrastructure development in the Central Asian nation. In a joint declaration signed in Astana, H.E. Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy of Kazakhstan, and AIIB Vice President Konstantin Limitovskiy reaffirmed their collaboration. Baibazarov, who also serves as AIIB Governor, underscored Kazakhstan’s role as a founding member of the AIIB. Limitovskiy praised Kazakhstan’s significant contribution to the establishment of AIIB and highlighted the potential for […] Read the full story here: https://lnkd.in/d-9kByDN #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #aiib #asia #kazakhstan #netzero #sustainableinfrastructure

Delighted to participate at the Western Balkan Summit organized by The Economist. Together with the Minister Infrastructure Liburn Aliu and the Minister of Economy Artane Rizvanolli at the panel on opportunities in financing infrastructure and energy, I focused on three important areas: 1) The need to invest much more in infrastructure, which should be considered as a necessary “enabler” for more business and investment activities in the country. Investments in infrastructure will drive the economic growth, create business opportunities for local businesses and increase employment. EBRD is the largest investor in infrastructure among IFIs in Kosovo, but we can definitely step up our investments and support to the Government. 2) The urgent need to reform and commercialize POEs – publicly-owned enterprises, which can open large opportunities for local and foreign companies and attract significant new investments into the country. 3) Importance of the private sector to speed up investments in renewable energy projects. We have seen a total 1000 MW solar and wind projects being developed by the private local and foreign investors which can be developed very fast with the improved regulatory environment and prioritization by the Government. Through EBRD credit lines we have already financed over 700 small renewable energy projects, but much more can be done. EBRD stands ready to continue supporting the Government of Kosovo with preparation and financing so much needed sustainable infrastructure projects. #EBRD, #sustainableinfrastructure, #renewableenergy

Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov met with Acting Special Coordinator of the Partnership for Global Infrastructure and Investments of the United States Helaina Matza. According to the information, during the meeting, the attraction of private financing in projects for the development of transport infrastructure, geology and digitalization was discussed. It is reported that this initiative, proposed by the United States at the G7 summit, is aimed at mobilizing investments for the development of high-quality infrastructure in developing countries. The United States plans to allocate up to $200 billion over five years through grants, federal funding and private investment, and the G7 countries - up to $600 billion. The World Bank and private investment companies such as BlackRock, Brookfield Asset Management, and Global Infrastructure Partners (GIP) are involved in the implementation of the initiative. #uzbekistan #usa #emergingmarkets #investments #infrastructure

Does “building the infrastructure for tomorrow” include financing gas-fired power plants, oil exploration, and LNG facilities? YES, according to the way the Asian Infrastructure Investment Bank (AIIB) set up its capital market operations. On the occasion of the AIIB’s Annual General Meeting in Uzbekistan, Urgewald took a closer look at the bank’s capital market investments. The findings are telling:   -       62% of AIIB CMOs support fossil fuel companies to the tune of $321.41 million. -       Factoring in the knock-on, private capital mobilization effects of AIIB’s investments, the bank is likely responsible for over $1.8 billion in fossil fuel financing. -       The AIIB willfully excludes capital market operations from both its Environmental and Social Framework (ESF) and its Project-affected People’s Mechanism (PPM). This means its own environmental and social standards and complaint mechanisms, contested as they are, do not apply here at all. These findings highlight a concerning disparity between the AIIB’s stated commitment to sustainability and its actual investment practices. It appears that the bank has created a grey area that lets it bypass the screening requirements of the Energy Sector Strategy (ESS) and the ESF. This decision allows for the continued support for fossil fuel infrastructure and the investment into environmentally and socially harmful projects, denying affected communities the opportunity of redress. The AIIB must do better to be truly Paris-aligned and future-oriented. All activities along the oil and gas value chain belong on the Environmental and Social Exclusion List. Capital market operations require consistent and robust information disclosure as well as environmental and social accountability. Full study available here: https://lnkd.in/d837TKpW Asian Infrastructure Investment Bank (AIIB) AIIB Complaints-resolution, Evaluation and Integrity Unit (CEIU) Danny Alexander #AIIBAnnualMeeting #AIIBinUzbekistan #DevelopmentFinance

We are excited to announce that we will be hosting Helaina Matza, Acting Special Coordinator for the Partnership for Global Infrastructure and Investment (PGII), in Kazakhstan next week. This visit marks a significant step forward in discussing potential investment projects that align with our vision for sustainable development and infrastructure growth! The PGII aims to mobilize $600 billion by 2027 for infrastructure projects globally and in Central Asia, focusing on the following sectors: 1. Transportation Infrastructure: Enhancements in transportation networks to facilitate trade and economic growth. 2. Clean Energy: Projects focusing on renewable energy sources, such as solar and wind, to improve energy access and support climate goals. 3. Digital Infrastructure: Investments to improve digital connectivity, including expanding internet access and enhancing digital services. 4. Healthcare: Investments in healthcare infrastructure to improve access to medical services and facilities. We look forward to engaging in meaningful dialogues that will pave the way for collaborative efforts in these areas. These discussions are crucial as we aim to enhance Kazakhstan's infrastructure landscape, boost our economic growth, and improve the quality of life for our citizens. Stay tuned for more updates on this important visit and the opportunities it will bring for Kazakhstan. #investinkazakhstan

Today on #Denmark’s #grundlovsdag an official kick-off meeting for the start of the project implementation of the water supply system reconstruction in #Mykolaiv, #Ukraine took place. All involved partners; the city, Vodokanal, project implementation consultant iC Ukraine and Nefco - the Nordic Green Bank, the project manager, took part in the meeting. iC Consulenten presented the project cycle, timelines, and next steps of the project. The investment grant agreement was signed between Nefco and the city of #Mykolaiv in southern #Ukraine on 24 April to reconstruct the water for a selected district in the city. The existing water distribution network in the Korabelnyi district of Mykolaiv faces significant challenges. The infrastructure is in poor technical condition, with pipe leakages reaching around 40%. Funds of up to DKK 40 million, approx. EUR 5.36 million, from #Denmark, through the Danida Sustainable Infrastructure Finance IFU, have been allocated to reconstruct the city’s water supply infrastructure. Over 70,000 Korabelnyi residents are set to benefit from these improved water supply services. Read more: https://lnkd.in/dYwW8meW #watermanagement #waterreconstruction Embassy of Denmark in Ukraine Danish Ministry of Foreign Affairs

The outstanding dues of power projects of China-Pakistan Economic Corridor (CPEC) have alarmingly increased to a record Rs493 billion or $1.8 billion as of last month, showing an increase of over three-fourths in a span of just seven months.