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World Bank to Provide Additional Support for Kambarata-1 Hydropower Project in Kyrgyzstan

The World Bank announced on July 11 that its Board of Executive Directors has approved $13.6 million in additional financing for the Kambarata-1 Hydropower Plant (HPP) Project in Kyrgyzstan. This additional funding will supplement the ongoing $5 million Technical Assistance Fund. The World Bank is aiming to support the government of the Kyrgyz Republic in preparing the Kambarata-1 HPP project in an environmentally, technically, financially, and commercially sustainable manner. Hugh Riddell, World Bank’s Country Manager for the Kyrgyz Republic, commented: “The World Bank is assisting the Kyrgyz Republic in developing its vast clean energy potential, which would be key to realizing the country’s and region’s bold initiatives on clean energy transition and enhanced regional cooperation on energy and water. World Bank support will help the government of the Kyrgyz Republic to comprehensively prepare the Kambarata-1 HPP Project in a sustainable and bankable way.” The ongoing Technical Assistance for the Kambarata-1 Hydropower Plant Project has made significant progress since its approval in the fall of 2023. The project feasibility update has commenced, and environmental and social reports are being prepared. In addition, a Donor Coordination Committee was established during the International Energy Investment Forum held in Vienna in June 2024. This additional financing is needed to ensure comprehensive and in-depth implementation of several critical activities, including establishing panels of experts on dam safety, environmental, and social concerns. The funding will also help in designing a benefit-sharing plan, structuring the project’s financing plan and commercial framework, and establishing a company to run the dam upon its completion. The additional financing is to be provided on highly concessional terms and comprises $11 million of credit at zero percent interest, with repayments eased over 50 years and a 10-year grace period. In addition to this credit, there is a $2.6 million grant from the Central Asia Water and Energy Program (CAWEP), which requires no repayment. The CAWEP is a multi-donor partnership between the World Bank, the European Union, Switzerland, and the United Kingdom, which is aimed at strengthening regional cooperation on water and energy security in Central Asia, which is facing a climate emergency. The Donor Coordination Committee for the construction of Kambarata-1 HPP was established at the Kyrgyz Republic International Energy Investment Forum, which was held in Vienna on June 10. The Committee comprises major international financial institutions and development partners, including the World Bank, the OPEC Fund, the Asian Development Bank, the Asian Infrastructure Investment Bank, the Islamic Development Bank, and the European Bank for Reconstruction and Development. Speaking at the Vienna forum, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov said that the Kambarata-1 HPP project has broad economic, environmental, and social benefits and prospects for both Kyrgyzstan and the rest of Central Asia. The project will provide Kyrgyzstan and Central Asia with clean energy at the lowest possible cost. The Kambarata-1 HPP will be situated in the upper reaches of the Naryn River in Kyrgyzstan. Its installed capacity will be 1,860 megawatts, and its average annual...

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It Wasn’t Like This Under Nazarbayev: Kazakhstan’s Party Political Landscape

Speaking on June 27 on the eve of Media Workers Day at a reception where awards were presented to distinguished journalists, Kazakh President Kassym-Jomart Tokayev paid special attention to the powers of the head of state. Tokayev emphasized that the term of presidential powers approved in the referendum is a reality that will not be altered through amendments to the Constitution. This means that in 2029, Kazakhstan will see a new president, chosen through a legal expression of its citizens' will. This new president will not appear out of nowhere; they will likely be nominated by one of the existing political parties, which will enter the electoral battle for the Mazhilis deputy mandates in 2028. The party leading this significant two-year electoral race will have its nominee occupy the presidency of Kazakhstan. The topic of the "problem-2029" is already a subject of discussion within the corridors of power. The current president's team has a dual task - ensuring the continuity of democratic and liberal transformations while preventing a resurgence of the Old Kazakhstan. Having been unable to change the country's leadership in 2022, Tokayev's opponents will likely pursue an institutional route. Historically, former president Nursultan Nazarbayev used a similar strategy, having first elected democratically, then extending his powers via a referendum, and gradually amending the Constitution to consolidate his rule without seeking further public approval. Could a current political party be used as a Trojan horse in such a scenario? Here are the players on the present political landscape. Amanat The most influential party in Kazakhstan, Amanat, which formerly supported Elbasy (Father of the Nation) Nursultan Nazarbayev, was founded in 1999 through the merger of several political organizations, with the largest being the Party of People's Unity of Kazakhstan (PNUK). Known as Otan and then Nur Otan (“Radiant Fatherland”) until it was rebranded in 2022, although modern sources attribute this merger to Nazarbayev, he was reportedly not focused on party building at that time. The Otan party, which resulted from the merger, emerged shortly after the early presidential election of 1999, where Nazarbayev won with a "modest" 80.97% of the vote. The runner-up in the election, Serikbolsyn Abdildin claimed that there had been widespread voter fraud and a failure to tally ballots properly, whilst the U.S. Department of State commented that the undemocratic nature of the election "cast a shadow on bilateral relations". In 2006, Otan held two congresses, during which three more political organizations joined: the Asar Party, founded by Nazarbayev's eldest daughter Dariga and her then-husband Rakhat Aliyev, as well as the Civic and Agrarian Parties, previously part of the AIST pre-election bloc. Following these mergers, Otan was renamed Nur Otan. After Rakhat Aliyev was charged, initially with the kidnapping and then with the murder of two executives at a bank he controlled in 2007, Dariga and her son took over his stake, swelling her fortune. In 2013, Forbes named her one of the fifty richest Kazakhs with assets of US$595 million, including a vast media empire. Under...

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Kyrgyzstan and Russia to Expand Cooperation Across the Board

On July 10, the 25th meeting of the Intergovernmental Kyrgyz-Russian Commission on Trade, Economic, Scientific, Technical and Humanitarian Cooperation, was held in the Russian city of Krasnoyarsk, co-chaired by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov and Deputy Prime Minister of the Russian Federation Alexey Overchuk. Aimed at strengthening cooperation between Kyrgyzstan and Russia, the agenda focused on developing trade and economic relations, increasing bilateral trade turnover, and creating favourable conditions for investments and joint ventures. The parties also discussed issues related to developing scientific and technical cooperation, expanding humanitarian ties, including in education, culture, and healthcare, as well as joint projects in tourism and transport. Referencing the fact stated that in 2023, trade turnover between Kyrgyzstan and Russia reached $3 billion, and in the first four months of 2024, had already exceeded $1 billion, showing an increase of 30%, Akylbek Japarov announced the mutual goal to increase the Kyrgyz-Russian trade to up to $5 billion. Given the two countries’ intention to increase the share of mutual settlements in national currencies, the head of the Kyrgyz Cabinet invited the largest state-owned banks of Russia, such as Sberbank, VTB, Vnesheconombank, and Gazprombank, to open branches in Kyrgyzstan. On the same day, Akylbek Japarov also spoke at the meeting of the 11th Kyrgyz-Russian Interregional Conference in Krasnoyarsk. Regarding Kyrgyz-Russian cultural and humanitarian interaction, Japarov said that the past three years had seen a “breakthrough in the education sector.” In particular, he noted an agreement concluded last year, on Russia’s construction of nine new schools in Kyrgyzstan; one in each of its seven regions and two in the cities. Further to signing a Decree on the establishment of a branch of the Lomonosov Moscow State University in the Kyrgyz city of Karakol, the president expressed his appreciation of the increase in budget-paid places for Kyrgyzstan citizens studying in Russian universities to 1,000.

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Almaty’s Aspan Gallery Champions Central Asian Art at Home and Abroad

“It’s difficult to be a point, but it’s easy to be a line, as everything in our world is moving.” The quote by Soviet avant-garde artist Sergey Kalmykov became the title of a 2020 show by Kazakh artists Almagul Menlibayeva and Yerbossyn Meldibekov, the first exhibition by Almaty-based gallery Aspan to be staged in the UK. This concept of continuous movement aptly describes the nine-year trajectory of the Aspan Gallery, founded and directed by Meruyert Kaliyeva. Maintaining its focus on contemporary Central Asian art, the gallery is constantly expanding and adapting to the dynamic of the international art world. [caption id="attachment_20211" align="aligncenter" width="776"] Dilyara Kaipova @Aspan[/caption] The story of how the gallery came into being is unconventional. Meruyert Kaliyeva studied art in the UK, with the intention of practicing as an artist. She soon discovered, however, that the life of an artist was not for her and explained to TCA: “To be an artist, you must sacrifice your social and family life. You must disconnect from it all, and I was not willing to do that.” At the same time, she noticed that unlike her, many individuals at art school seemed destined to become artists. "Some people don’t have the luxury of choice,” she recalls. “I felt that these people needed to focus solely on creating art, and I realised I could help unburden them from some practical preoccupations.” After four years and a half working in auction houses in the UK, Kaliyeva finally decided to return to Kazakhstan. Having quickly realised the importance of supporting artists in a region where institutional support for contemporary art is extremely limited, she opened what is now the Aspan Gallery. Kaliyeva’s mission was twofold. In tandem with developing the Central Asian art scene locally, through staging important historical exhibitions, publishing books and catalogues, and commissioning artists, she also concentrated on disseminating knowledge of Central Asian art abroad. A case in point is Aspan’s recent, significant donation to the Stedelijk Museum in Amsterdam. The donation was curated by Robbie Schweiger, based on research conducted in Kazakhstan, Kyrgyzstan, and Uzbekistan, and with input from Kaliyeva, connections were drawn between Central Asian artists and the Stedelijk’s permanent collection. The Times of Central Asia spoke to Kaliyeva about both the donation and the growth of the Kazakh art scene over the past few years. TCA: Why did you choose the Stedelijk Museum in Amsterdam for such a significant donation? MK: We were keen to have some of our artists represented in major institutions and identified three museums as contenders. The first on the list was the Stedelijk, which already held a collection of Central Asian art. The donation comprised 22 works by 13 artists from Kazakhstan, Kyrgyzstan, and Uzbekistan, spanning almost fifty years, from 1974 to 2020. Works from the 1970s and 1980s, created by artists associated with the underground art scene of the former Soviet republics, were complemented by work made after these republics gained independence in the early 1990s., in which artists explored national...

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Will Kazakhstan Manage to Save the National Fund?

Experts report that Kazakhstan's National Fund has seen cumulative withdrawals of $100 billion over the past decade. The sovereign wealth fund, managed by the National Bank of the Republic of Kazakhstan, has often been used to meet state needs. Despite this, with the National Fund for Children program set to launch in 2024, President Tokayev has instructed an increase in its assets. The National Fund was established in 2000 by a decree from former President Nursultan Nazarbayev. It consolidates state assets held in the national bank account of the Republic of Kazakhstan. The fund's income is derived from two sources: tax receipts from the oil and gas sector and earnings from managing its assets. Starting in 2024, the National Fund for Children program will receive 50% of the fund's annual income. Business analyst Abzal Narymbetov explained that the fund's initial influx came from the sale of a 5% stake in the Tengiz oil field for $660 million in 2001. At its inception, the fund was intended to benefit future generations. However, various crises and management errors have frequently forced the government to dip into what is often called the "people's piggy bank." Likening the National Fund to a similar structure in Norway, Narymbetov states that the fund's accumulation peaked at more than $70 billion in 2014. "Since then, the NF has diverted money to 'urgent current needs,' such as bailing out commercial banks, supporting national companies, and filling holes in the state budget. At the moment, less than $60 billion remains in the fund. Kazakhstan began accumulating oil money with the production of 0.8 million barrels in 2001. Norwegian and Kazakh oil production has been in the same range of 1.8-2.0 million barrels for the last eight years. In other words, Kazakhstan and Norway have been producing in the same range for the last eight years; however, we spend significantly more. "For example, the Norwegian Petroleum Fund (renamed the state pension fund) was established by the government in 1990. Money was first invested in 1996, but the first figures that can be traced are $23 billion in 1998. The oil money, in my opinion, has been wisely invested in different assets. As a result, it has reached a record level of $1.4 trillion today," said Narymbetov. The analyst pointed to research by economists indicating that if money from the National Fund of Kazakhstan had not been used for current spending needs, it would now exceed $150 billion. He also cited a study suggesting that if oil prices drop to $30 per barrel, the fund's reserves could be depleted within five years. Twenty years ago, Kazakhstan had high expectations for the National Fund, hoping it would act as a financial savior during crises and provide support for young citizens. In 2022, President Tokayev announced plans to increase the National Fund's assets to $100 billion. "Everything that rightfully belongs to the people of Kazakhstan will serve their interests. For this purpose, we will ensure effective fund management and enhance its investment income,"...

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Intrigue Shadows a Rugged Motor Race with Central Asian Roots

Several vehicle crews from Turkmenistan are competing in the Silk Way Rally, a 5,243-kilometer race that started in Russia’s Siberian city of Tomsk on July 5 and will finish in Ulaanbaatar, Mongolia on July 15 after passing through mountain and desert terrain. The Russia-backed event has attracted scrutiny not just for the off-road adventure – its organizers face U.S. sanctions for allegedly helping Russian military intelligence. The annual Silk Way Rally, which comes at a time of high tensions between Russia and the West over the war in Ukraine, has a history of Central Asian involvement since it was first held in 2009. The initial route started in Kazan, Russia, went through Kazakhstan and finished in Ashgabat, the capital of Turkmenistan. After a few more route variations, the 2016 edition began in Red Square in Moscow and passed through Kazakhstan on the way to the finish in Beijing after an epic 10,735 kilometers. The race was canceled in 2020 because of the pandemic. The rally has had competitions for various categories, including trucks, cars, SSVs (Special Service Vehicles, of a type often used by police or firefighting units for difficult conditions at high speeds) and quad bikes, which are four-wheel, all-terrain vehicles. [caption id="attachment_20146" align="aligncenter" width="374"] silkwayrally.com[/caption] The rally, which purports to follow routes used by merchants on the so-called Silk Road network many centuries ago, is reminiscent of the renowned Dakar Rally in West Africa. It has recently come under suspicion as an alleged front for Russian operatives. Past winners and competitors in the Silk Way Rally have included people from France, Spain and other Western European countries, as well as Ukraine, Israel, Qatar, Saudi Arabia and Argentina. At least two dozen countries were represented in several editions of the annual race in previous years. This year, nationals from about half a dozen countries signed up and the vast majority are Russian, illustrating the impact of sanctions and the deterioration in ties since Russia’s full-scale invasion of Ukraine in 2022. Several two-member teams from Turkmenistan, including brothers Merdan and Shokhrat Toylyev, are competing in the T2 class of cross-country vehicles. A Kyrgyz citizen is listed with a Russian in a team in another vehicle category. The 2024 Silk Way Rally is not recognized by the Fédération Internationale de l'Automobile, also known by its initials FIA. The Paris-based governing body of motorsport has taken action to isolate Russia and its ally, the government in Belarus, since the Russian invasion of Ukraine. The race has caught the attention of the U.S. Department of the Treasury, which on June 12 said it was imposing sanctions on the organization and its directors for alleged ties to the Russian military intelligence agency GRU. The department said Silk Way head Bulat Akhatovich Yanborisov, a Russian citizen, had received awards from the GRU for his work and appears to use his properties in Europe as transit points for Russian military intelligence officers. “Bulat, who is Silk Way’s CEO and general director, alongside his son Amir Bulatovich Yanborisov (Amir),...