Promoting Sustainable Development in Central Asia: Key Highlights from the Eurasian Development Bank’s Roundtable

According to a press release issued by the Eurasian Development Bank (EDB), on November 16th, 2023, Almaty, Kazakhstan, served as the venue for a critical roundtable hosted by the EDB, titled "Promoting Sustainable Development in Central Asia". This gathering saw the participation of representatives from a wide range of international organizations and multilateral development banks. Attendees included the likes of the World Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the Islamic Development Bank, FAO, UNIDO, UNEP, ESCAP, UNDP, the World Health Organisation, the International Fund for Saving the Aral Sea, and CICA. The agenda was packed with discussions revolving around irrigation, water challenges, environmental and social standards of international financial institutions, and case studies that showcased collaborations in project implementation12. The EDB's latest report, "Efficient Irrigation and Water Conservation in Central Asia", was introduced during the roundtable's first session. Nikolai Podguzov, Chairman of the EDB Management Board, underscored the essential interrelationship between water, food, and energy in Central Asia. He declared the development of the region’s water and energy resources as a strategic priority for the EDB. He also expressed concerns over an impending water deficit in Central Asia within the next five years, urging for collective action supported by multilateral development banks3. Tatiana Proskuryakova, the Regional Director for Central Asia at the World Bank, also spoke at the event. She emphasized the importance of sustainable development in Central Asia to international organizations and multilateral financial institutions. She revealed that the World Bank has allocated approximately a quarter of its $12 billion investment portfolio in Central Asia to water, energy, and environmental sectors. This proportion is expected to rise to almost half in the near future4. Following this, Evgeny Vinokurov, EDB Chief Economist, presented the study "Efficient Irrigation and Water Conservation in Central Asia". He proposed a ten-step solution to address the prevalent issues. The steps include establishing an International Water and Energy Consortium; fostering collaboration among multilateral banks; creating a regional cluster to produce irrigation equipment; consolidating efforts to strengthen cooperation with Afghanistan; using PPP instruments; instituting proper water accounting; gradually integrating investment charges into the tariff structure; improving land conditions; implementing digital technology, and leveraging state-of-the-art irrigation technology and laser levelling.

IFC Appoints New Country Manager for Uzbekistan and Turkmenistan

According to the website of the International Finance Corporation (IFC), the organization, a member of the World Bank Group, on October 9 said it has appointed Neil McKain as Country Manager for Uzbekistan and Turkmenistan. McKain will spearhead IFC's strategy and operations to spur private sector development and drive sustainable, inclusive economic growth in these countries. McKain will be based in Tashkent, Uzbekistan and will lead efforts to grow IFC's investment and advisory programs, overseeing their operation across sectors, and managing key relationships with clients, partners, and governments. A British national, McKain brings over 20 years of private sector development experience to his new role. He most recently served as Adviser to the Vice President, Banking, at the European Bank for Reconstruction and Development (EBRD). Prior to that, McKain was regional head for the EBRD in the Kyrgyz Republic, Tajikistan and Turkmenistan, spending 14 years in senior positions in the Caspian Basin and Central Asia. "I welcome Neil to this important role. I know his technical and leadership skills and knowledge of the region will help expand IFC's impact, generate new partnerships to meet the countries' needs, and build a strong foundation for a dynamic and inclusive private sector," said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. "Increased private sector investment is critical to help Uzbekistan and Turkmenistan grow and diversify their economies and better harness their immense potentials," said McKain. "I'm excited to take up my new role and work with our partners in these countries to amplify IFC's support through private sector-led solutions." Before joining the EBRD in 1998, McKain started his professional career with A.T. Kearney in Russia working on post-privatization restructuring. He holds an MBA from the University of Cambridge and an MA in Political Science from the University of Aberdeen.   His new role took effect on October 2.