Environment - The Times Of Central Asia

Viewing results 127 - 132 of 386

Fueling Growth: IFC Strategic Initiatives for Sustainable Development in Central Asia – An Interview With Hela Cheikhrouhou

With its headquarters in Washington, D.C. the International Finance Corporation (IFC) was established in 1956 as the private-sector arm of the World Bank. The institution offers advisory, and asset-management services to promote investment in developing countries. Recent ventures in Central Asia include solar power projects in Uzbekistan and Kyrgyzstan, and an entrepreneurship scheme for women and young people in Tajikistan. TCA spoke with Hela Cheikhrouhou, IFC Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan about the IFC’s work in Central Asia. TCA: Can you please give us an overview of IFC's performance in Central Asia for fiscal year 2024 (July 1, 2023, to June 30, 2024)? IFC had a pivotal year in Central Asia, making strides in sustainable development and inclusive growth across the region. Our efforts concentrated on climate finance, infrastructure, agriculture, and supporting smaller businesses. By coupling investments with advisory support, we helped expand the role of the private sector, creating jobs, promoting financial inclusion, strengthening infrastructure, and supporting the region's green transition. In the fiscal year 2024, IFC committed over $1 billion to Central Asia. This includes about $400 million in long-term financing from our own account, $600 million in mobilization, and $35 million in short-term trade and supply-chain finance to facilitate trade flows. Alongside these financial commitments, we engaged in advisory projects focused on improving financial inclusion, developing innovative public-private partnerships (PPPs), and advancing climate initiatives and gender equality. Our results this year underscore our commitment to fostering sustainable, inclusive growth, and enhancing the resilience and sustainability of Central Asian economies. TCA: Can you highlight some of the IFC’s key achievements in Central Asia this year? In addition to the strong financial commitments mentioned earlier, IFC expanded its presence in various sectors, including finance, capital markets, renewable energy, agriculture, and infrastructure. Through our advisory services, we helped structure impactful PPPs at the sectoral level. A major focus this year has been strengthening local financial markets. IFC invested $228 million across ten financial institutions in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan. Up to half this amount was dedicated to supporting women entrepreneurs and rural enterprises. We also helped these financial institutions expand portfolios related to their micro, small, and medium enterprise (MSME) businesses, advance climate finance, foster digital transformation, and issue the region’s first sustainability, social, and green bonds. Supporting MSMEs has enabled entrepreneurs to grow their businesses and generate employment. In the past fiscal year alone, IFC-supported projects created around 35,000 direct jobs, including opportunities for over 13,000 women across the region. These efforts have been further bolstered by targeted investments and projects in individual countries across the region. In Uzbekistan, IFC, together with the World Bank, financed a new solar plant equipped with the country’s first battery energy storage system. Once completed, the plant is expected to provide electricity access to around 75,000 households in the Bukhara region. As part of its broader support for the Uzbek government’s efforts to reform its chemical sector, IFC assisted the State Asset Management Agency in privatizing Ferganaazot,...

Central Asia Environment Kyrgyzstan Environment International Affairs Local Politics Kyrgyzstan Kyrgyzstan International Affairs Business & Economy Kyrgyzstan Local Politics Kyrgyzstan Business & Economy

Bishkek Secures Multi-Million Dollar Grants at COP29 Conference in Baku

Boobek Azhikeev, the head of Kyrgyzstan’s Ministry of Emergency Situations, held several meetings with representatives of international institutions during the COP29 conference in Baku. Protocols and memorandums were signed, and a joint action plan for 2025-27 was developed. “I would like to highlight our meeting with the regional director of the Green Climate Fund, where we discussed a $25 million grant,” stated Kyrgyz EMERCOM spokeswoman Elnura Muktarova. “These funds are intended to support Kyrgyzstan’s Hydrometeorological and Forestry Services, as well as the Training and Research Center of the Ministry of Emergency Situations. We anticipate beginning these projects next year.” Azhikeev also negotiated with FETNet, a Finnish company that will provide advanced training for the Hydrometeorological Service. FETNet has offered to train Kyrgyz specialists in Finland and will present cutting-edge technologies to improve the accuracy and timeliness of weather forecasts. In addition, the Ministry of Emergency Situations announced that it had reached an agreement with the Asian Development Bank (ADB) to secure $60 million for strengthening the banks of the Kara-Darya, Chu, and Yassy rivers. This funding aims to reduce flood risks and enhance the ecological situation in the region. Of the total, 40% will be provided as a grant, while the remainder will be offered as a loan. During a meeting with representatives from the Financial Service under the Government of South Korea, discussions centered on financing Kyrgyzstan’s Forest Service. The South Korean representatives pledged support in the form of laboratory equipment, high-quality seeds, and digital mapping tools to combat pasture degradation and enhance forestry management. Kyrgyz Ministry of Emergency Situations officials also met with Turkish EMERCOM representatives and the Turkish Cooperation and Coordination Agency (TIKA) to discuss joint efforts in responding to emergency situations.

Central Asia Environment Uzbekistan Environment Uzbekistan Kyrgyzstan Environment Tajikistan International Affairs Tajikistan Local Politics Tajikistan International Affairs Kyrgyzstan International Affairs Kyrgyzstan Local Politics Business & Economy Kyrgyzstan Local Politics Tajikistan Environment Uzbekistan International Affairs Uzbekistan Local Politics

ADB Launches ‘Glaciers to Farms’ Initiative to Combat Climate Change in Central Asia

The Asian Development Bank (ADB) has unveiled a new regional initiative, Glaciers to Farms, aimed at promoting sustainable water management and food security in Central Asia, the South Caucasus, and Pakistan. The program addresses the severe effects of accelerated glacial melt caused by climate change. Backed by the Green Climate Fund (GCF), ADB will conduct risk assessments of glacial melt in Azerbaijan, Kyrgyzstan, Tajikistan, and Uzbekistan to establish a scientific and technical foundation for the program. Regional Cooperation for Glacier Preservation On November 14 in Baku, Azerbaijan, a declaration of support for glacier preservation was signed by several regional leaders: Azerbaijan’s Minister of Ecology and Natural Resources Mukhtar Babayev, Kazakhstan’s Minister of Ecology and Natural Resources Yerlan Nyssanbayev, Kyrgyzstan’s Minister of Natural Resources, Ecology and Technical Supervision Meder Mashiev, Tajikistan’s Committee on Environmental Protection Chairman Bahodur Sheralizoda, and Uzbekistan’s Minister of Ecology, Environmental Protection, and Climate Change Aziz Abdukhakimov. They were joined by ADB President Masatsugu Asakawa and GCF Chief Investment Officer Henry Gonzalez. “As melting glaciers change water flows, disrupt lives, and destroy ecosystems, we must act now,” said Asakawa. “As Asia and the Pacific’s climate bank, we are pleased to be joined by key partners to launch this program to drive international collaboration and deliver results where they matter most—on the ground, in communities at risk.” The Urgent Need for Action Temperatures in the region are expected to rise by up to 6 degrees Celsius by 2100. The resulting loss of glacial mass poses a dire threat to ecosystems, jeopardizing water supplies for agriculture and hydropower and endangering the livelihoods of over 380 million people. The Glaciers to Farms program aims to mobilize up to $3.5 billion in funding from ADB, GCF, governments, development partners, and the private sector. Beyond investments in water and agriculture, the program will prioritize vulnerable communities in fragile mountain regions that are most threatened by glacial melt. Global and Regional Efforts The United Nations General Assembly has declared 2025 the International Year of Glacier Preservation, with Tajikistan set to host the International Conference on Glaciers’ Preservation in Dushanbe next year. At a high-level event in Baku on November 12, Tajikistan's President Emomali Rahmon underscored the importance of preventing further glacier melt and preserving fragile ecosystems. Rahmon highlighted the establishment of the International Trust Fund for the Preservation of Glaciers under the United Nations’ auspices and noted the UN’s recent adoption of a resolution—initiated by Tajikistan and France—declaring 2025-2034 the Decade of Action for Cryospheric Sciences. This resolution calls for enhanced efforts to safeguard glaciers globally. Rahmon also proposed creating a Regional Coordination Center for Glaciology in Dushanbe under the World Meteorological Organization’s guidance. The center would study the impact of climate change on glaciers in collaboration with development partners.

Central Asia Uzbekistan Environment Environment Uzbekistan International Affairs Local Politics Business & Economy Uzbekistan Business & Economy Uzbekistan International Affairs Uzbekistan Local Politics

Uzbekistan and Germany Partner on Green Industrialization with €3 Million Grant

On November 13, at the 29th UN Climate Change Conference (COP29) in Azerbaijan's capital Baku, Uzbekistan's Ministry of Economy and Finance signed a memorandum with the German International Cooperation Society (GIZ) to secure additional funding for a project aimed at supporting the private sector in green industrialization. As part of the initiative, Germany has allocated €9 million to help Uzbekistan’s private sector transition to a green economy. The project is designed to assist the Uzbek government in implementing economic reforms and fostering sustainable economic development, focusing on enhancing the capacity of both the public and private sectors to adopt green industrialization practices. The initiative will also provide technical expertise in measuring and certifying greenhouse gas emissions, supporting Uzbekistan’s participation in international carbon trading mechanisms, and aligning with the European Union’s Cross-Border Adjustment Mechanism (CBAM). Additionally, it aims to promote resource-saving and sustainable production by encouraging the private sector to adopt green technologies, including circular economy practices and green industrial park models. To further bolster the project, a €3 million grant was approved during the conference. This funding will complement the ongoing initiative, titled “Support to the Private Sector and Advice on Economic Policy in Uzbekistan.”

Central Asia Uzbekistan Environment Environment Kazakhstan Environment Uzbekistan International Affairs Uzbekistan Features Kazakhstan International Affairs Kazakhstan Features Uzbekistan International Affairs Kazakhstan Home

Kazakhstan, Uzbekistan, and Azerbaijan Forge Green Energy Partnership

On November 13, on the sidelines of the COP29 summit in Baku, Azerbaijan, Kassym-Jomart Tokayev, Shavkat Mirziyoyev and Ilham Aliyev, the leaders of Kazakhstan, Uzbekistan and Azerbaijan, signed an agreement for a strategic partnership in developing and transporting green energy. Calling the signing of this agreement a historic event, Aliyev said that “it opens new opportunities for cooperation between the regions of Central Asia and the Caucasus. In fact, the integration processes, the processes related to transportation, energy, and trade between the regions of Central Asia and the Caucasus, allow us to say that these two regions are acting in a synchronized manner in many areas, including in the field of green energy development.”. The Azeri president added that constructing an electric cable under the Caspian Sea could lead to broader regional collaboration. Aliyev also highlighted Azerbaijan's ongoing plans to construct a cable from Azerbaijan along the bottom of the Black Sea to Europe. “The feasibility study for this project is nearing completion, so we will connect Central Asia, the Caucasus, Europe, the Caspian, and the Black Seas with a single energy corridor,” he stated. In his speech, Tokayev said the trilateral agreement opens new opportunities for integrating the energy systems of Kazakhstan, Uzbekistan, and Azerbaijan, as well as for creating reliable corridors to supply environmentally friendly energy to European and other markets. “Kazakhstan plays an extremely important role here as a large transit territory. The practical results of this Agreement will also contribute to developing the Middle Corridor as a ‘green bridge’ connecting our economies. Close cooperation in this key area will intensify the exchange of experience and advanced technologies between the three states and further strengthen our energy security,” Tokayev said. Mirziyoyev emphasized the environmental significance of this agreement, noting, “The energy that will be transmitted is wind and solar energy, which will help mitigate the impact on the climate. In this way, we support joint efforts to protect the climate within the framework of the Paris Agreement and achieve the Sustainable Development Goals,” he added. The three presidents also witnessed the signing of an Executive Program on cooperation in green energy development and transmission by the energy ministers of Azerbaijan, Kazakhstan, Uzbekistan, and Saudi Arabia.

Central Asia Environment Home Kazakhstan Environment International Affairs Kazakhstan Features Kazakhstan Featurees

COP29: Environmental Initiatives in the Real World

Kazakhstan's President Kassym-Jomart Tokayev has addressed the World Climate Summit in Baku, Azerbaijan. In his speech he spoke about the country's environmental problems, but also mentioned opportunities for new eco-friendly projects. At the same time, many world leaders did not attend the summit, and activist Greta Thunberg said climate problems should be discussed at other venues. Tokayev reaffirmed Kazakhstan's commitment to the global climate agenda and emphasized the importance of international cooperation in the fight against climate change. He reminded forum participants that carbon neutrality by 2060 can only be achieved with close cooperation and technology exchange. “Access to predictable funding and state-of-the-art technology is vital to achieving the targets. The NCQG should pay special attention to regions most vulnerable to climate change, including landlocked developing countries. Despite accounting for only 1% of global emissions, Central Asia faces multiple climate risks. To increase efficiency, we must actively utilize advanced technologies such as artificial intelligence, satellite monitoring, and other digital tools to provide early warning and better management of water and land resources,” Tokayev said. Tokayev added that Kazakhstan has opportunities for transition to better agriculture. According to him, the republic, which has 200 million hectares of agricultural land, is an ideal platform for introducing “carbon farming." The president said these agricultural production methods can reduce emissions and improve soil quality. “Our country provides 43% of the world's uranium supply and plays a significant role in developing low-carbon nuclear power. In October this year, ROK citizens supported the construction of a nuclear power plant in a nationwide referendum. We strive to ensure the safety and efficiency of this project through partnership with the world's technological leaders in energy”, added Tokayev. He separately emphasized the problem of the world's water resources. “Climate change is already seriously impacting the global water cycle. Water-related disasters account for more than 80% of all natural disasters. This year, the ROK faces unprecedented floods. To respond quickly in the future and recover from such emergencies, we are implementing a comprehensive risk management system. In partnership with France, Kazakhstan will hold the One Water Summit in December to actualize the water agenda. Participants of this forum will discuss the problems of global water management,” Tokayev said. “Today, the Caspian Sea is under threat. Saving the world's largest lake is a problem that requires long-term international cooperation. We support President Ilham Aliyev's (Azerbaijan) initiative to create a group of experts from the Caspian littoral states. Additionally, Kazakhstan is taking concrete steps to preserve the Aral Sea,” he added. Also, within the framework of the World Climate Summit in Baku, an important agreement for Kazakhstan's water sector was signed. Deputy Prime Minister and Minister of National Economy Nurlan Baybazarov said the Islamic Development Bank will finance Kazakhstan's $1.1 billion project for water resources development, which will be realized in nine regions. Kazakhstan is not standing still Today, Kazakhstan has several major environmental projects in operation. These include the Astana Green Belt, which has significantly improved the city's ecology, reduced air...