• KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09417 0.32%
  • UZS/USD = 0.00008 0%

Viewing results 7 - 12 of 327

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...

Boom in Uzbekistan’s International Flights

In the first half of 2024, Uzbekistan's airports processed 53,300 flights of which 16, 300 were domestic and 36,900 international; an increase of 37% compared to the same period last year, according to a report by Uzbekistan Airports' press service. From January to June, Uzbek airports served 6 million 369,384 thousand passengers on domestic flights, 1 million 263,304 thousand passengers on domestic flights, and 5 million 106,80 thousand passengers on international flights; an increase of 36%  compared to the first quarter of  2023. In the first half of the year, 40.7 tons of cargo and mail were transported, 18% more than last year. Today, Uzbek airports provide passenger services on 84 routes. The 15% increase is attributed to the addition of new air carriers and the simultaneous launch of several new routes. Uzbekistan Airports currently  cooperates with 45 airlines.

New Projects Launched in Uzbekistan’s Fergana Region

On July 11, Uzbekistan's President Shavkat Mirziyoyev attended a ceremony to launch several new projects in the country’s Fergana region. The first was the second phase of the construction of a mineral fertilizer plant by Singaporean company Indorama. The president then launched the construction of a solar power plant; a $350 million joint project with the German company Hyper Partners. Located in the Besharyk district of Fergana, the plant has  a capacity of 500 megawatts of which 200 megawatts will come online this year . When fully operational in 2025,  it will generate 1.6 billion kilowatt-hours of green energy per year, equivalent to the annual consumption of 675 thousand households. This increase in green energy will save 466 million cubic meters of natural gas. In addition, Mirziyoyev celebrated the start of construction on a $144 million electricity storage system by the Chinese Gezhouba Group. With a capacity of 150 megawatts and the means to automatically turn on when electricity demand increases to ensure stable operation of the power grid, the  facility should be operational before the end of this year Lastly, the president launched two small hydroelectric power plants; one with a capacity of 2.2 megawatts in the village of Shakhimardan, and the other,  with a capacity of 430 kilowatts, in the village of Yukori Vodil. During his speech, President Mirziyoyev noted that the volume of investments in the Fergana region is growing year on year. In 2018, only $90 million was invested in the region, while the figure for last year reached $1.3 billion. The number of enterprises financed with foreign capital currently totals 470. Around one hundred projects worth $370 million have been implemented in the Kokand free economic zone alone, creating 9 thousand new jobs. According to a presidential decree, this economic zone will expand by 210 hectares around the city of Kuvasay, house 185 new projects worth $1 billion, and create 12,000 jobs. In addition, a special Uzbek-Chinese industrial zone spanning  ​​230 hectares will be created in Kokand.

Uzbekistan and Afghanistan Discuss Railroad Projects and Freight Traffic

During a visit to Tashkent by a delegation from Afghanistan, representatives of the Uzbek and Afghan governments discussed reducing fees and duties for cargo carriers. A transit agreement between Uzbekistan, Afghanistan, and Pakistan was also discussed. During the visit, Uzbekistan and Afghanistan extended the contract to reconstruct the Khairaton-Mazar-e-Sharif railroad line for another six months. They also discussed technical studies for the Trans-Afghan railroad project, and scholarships for training Afghan railroaders in Uzbekistan. The reconstruction of the Hairaton-Mazar-e-Sharif railroad started in February this year. In parallel with the work on the branch line, reconstruction works are underway in park "B" of Hairaton station. Uzbekistan's First Deputy Transport Minister, Mamanbiy Omarov, said earlier that freight traffic along the transport corridor between the countries had increased 1.5 times over the past two years. Uzbekistan has provided several privileges for road and rail transportation. Omarov said the Afghan government will soon introduce equal payments for cargoes from Uzbekistan. He emphasized that transit transportation should develop bilaterally and be mutually beneficial.

Turkmenistan Discusses Transit Logistics With Company From China’s Shandong

Ashgabat recently hosted a working meeting between representatives of the Turkmen Logistics Association and the Chinese logistics company Shandong Hi-Speed Qilu Eurasia Railway Logistics Co., a key operator in China's Shandong province. The two sides discussed prospects for cooperation in logistics, noting Turkmenistan's growing potential as an important transit hub. The country's convenient geographical location, and its active investment in the development of transport infrastructure -- including the automation of customs procedures and the use of modern equipment -- are reasons for a recent increase in the volume of cargo transportation through Turkmenistan. The Chinese delegation led by Liu Junfeng, head of the company's representative office in Uzbekistan and head of the branch in Kazakhstan, emphasized interest in strengthening cooperation with Turkmenistan. Shandong Hi-Speed Qilu Eurasia Railway Logistics Co. specializes in rail and road freight transportation and has representative offices in many countries.

Central Asia’s Water Crisis

Over 80% of Central Asia’s available water is spent on irrigation, 40% of which is lost during delivery and directly in the fields. Over the coming years, the problem of water shortage will inevitably worsen and with the commission of the Qosh Tepa Canal in Afghanistan, will become chronic from 2028. The stark warning was issued by Evgeny Vinokurov, Eurasian Development Bank’s (EDB) Deputy Chairman of the Board and Chief Economist during the  “Water, Energy and Food in Central Asia: Partnerships and Projects for Sustainable Development” session at the EDB 2024 Annual Meeting and Business Forum on 27–28 June in Almaty. The challenges of the Central Asian water and energy complex are too great to be tackled independently by the region’s countries. Historically, Central Asia’s five states have been closely linked by the region’s two largest transboundary rivers, the Amu Darya and the Syr Darya which flow into the Aral Sea basin, home to 80% of the population. Hence, the need for close a intersectoral relationship (nexus) concerning water, energy and food and deep regional cooperation for the effective use of shared water and energy resources to overcome the crisis. At the session, Askhat Orazbai, Chairman of the Executive Committee of the International Fund for Saving the Aral Sea, stressed the central role played by IFAS in building essential regional dialogue. The Fund is the only regional organization with membership of all five Central Asian states and according to its mandate, was designed to address the region’s complex water-energy nexus. For over 30 years, the Fund has been the key platform for decisions on water resources management at the highest level. Currently being reformed, the Fund’s full potential will soon be fully unlocked. The session emphasized the urgent need for increased funding to deal with challenges posed by water scarcity. Modernization of the existing irrigation infrastructure is extremely capital-intensive but budgetary funds are inadequate and private investors have shown no interest in the sector. The contribution of multilateral development banks is therefore critical and encouragingly, over recent years, most of the region’s  MDBs have given special priority to water projects. The EDB's Chief Economist Vinokurov pointed out that conservation is key to solving the problem of water scarcity. Highlighting the importance of digital accounting and the introduction of effective irrigation technologies, Vinokurov suggested creating a regional cluster of irrigation equipment. Considering that the region spends from $150 million to $300 million annually on the above, the EDB plans to actively support this sector's development. Michael Detlefsen, a UNIDO representative, expressed confidence in the future formation of a regional cluster of irrigation equipment in Central Asia. Over the last two years, the region has seen increased activity from manufacturers from Turkey, China, Israel, and the United States on the organization of local assembly lines. In this regard, the UNIDO representative stressed the importance of working together with the EDB to form such a cluster.