BISHKEK (TCA) — The Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IDB) Group, Mr. Khaled Al-Aboodi, and the Chief Executive Officer of Kyrgyzstan’s Micro-Credit Company Mol Bulak Finance, Mr. Babyrzhan Tolbaev, signed a line of financing agreement for a USD 10 million facility in Istanbul, the ICD said on November 26.

Continue reading

TASHKENT (TCA) — In Uzbekistan, the training of trainers has begun, which in the future will help the rural population to learn the subtleties of hospitality by creating guest houses, the Delegation of the European Union to Uzbekistan reports.

Continue reading

ASHGABAT (TCA) — Today, China remains the only buyer of Turkmenistan’s natural gas. As China’s energy consumption continues to grow, Turkmenistan can be sure to have this large sales market for its hydrocarbons for many years to come. We are republishing this article by Gary Sands* on the issue, originally published by EurasiaNet.org:

Continue reading

BISHKEK (TCA) — The Publisher’s note: Central Asia is an important geopolitical area between Europe, Russia and China. It is in Central Asia that world powers have confronted each other for centuries; it is here that China needs to succeed with its new Silk Road Belt for direct access to the Western markets; and it is here that a large wealth of raw materials has its origin. Every week thousands of news appears all over the world in printed and online media and it is quite understandable that many of them may escape the attention of busy readers. At The Times of Central Asia, we strongly believe that more information can better contribute to peaceful development and better knowledge of the region, and for this reason we are presenting this Weekly Digest of Central Asia which compiles what other media have reported during the past week.

Continue reading

ASHGABAT (TCA) — A Memorandum of Understanding has been signed in Ashgabat between the Ministry of Railway Transport of Turkmenistan and the Afghanistan Railway Authority for a major overhaul of the railway line from the Turkmen station of Serkhetabat to the Afghan border station of Torghundi, the State News Agency of Turkmenistan reported. The modernization project provides for total rebuilding of the section that will be financed entirely by Turkmenistan. The project includes the construction of a 13-km-long railway track and modern infrastructure.

With this project, Afghanistan’s transport network will be linked to Turkmenistan’s railway system via the border station of Torghundi with access to third countries.

The Memorandum is based on economic, historical and cultural ties between Turkmenistan and Afghanistan, and the successfully completed Atamyrat-Ymamnazar-Aqina railway project that has substantially contributed to promoting trade and economic relations between the two neighboring countries, increasing trade turnover and rail freight transit.

The new project will enhance the border station’s handling capacity, and will increase its importance for landlocked Afghanistan’s trade turnover. The modernized track will ensure the most convenient and reliable way for the country to export domestic products to foreign markets and import goods from abroad.

It is part of the large-scale project of construction of a railway from Turkmenistan to Afghanistan (its first phase, the Atamyrat-Ymamnazar-Aqina Railway, was completed last autumn). Today, the two countries are closely collaborating on the issue to continue the project in Afghanistan. In the long term, the railway is planned to reach the border of Tajikistan and become a significant part of the Asian International Railway Corridor.

BISHKEK (TCA) — Three international organizations — the International Islamic Trade Finance Corporation (ITFC), the UN Development Programme (UNDP), and the International Trade Centre (ITC) — have launched a new trade intelligence training programme for Central Asia, to support the trade and export capacities of the businesses in this region.

Continue reading