Page 783 – The Times Of Central Asia

12 Jul 2024

Central Asia, Environment, Home, International Affairs, Kyrgyzstan, Kyrgyzstan International Affairs, Business & Economy, Kyrgyzstan Business & Economy, Features

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

July 22, 2024
By Sergey Kwan

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 generation will be 5.6 billion kilowatt-hours of electricity. The preliminary construction cost for the project is more than $4 billion.

The project also has broader development objectives across the Central Asian region, including expanding electricity trade, decarbonizing energy grids, facilitating solar and wind integration, and better meeting water needs in the downstream countries of Kazakhstan and Uzbekistan.

12 Jul 2024

Central Asia, Uzbekistan, Uzbekistan Features, International Affairs, Business & Economy, Uzbekistan Business & Economy, Uzbekistan International Affairs

Boom in Uzbekistan’s International Flights

August 29, 2024
By Times of Central Asia

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.

12 Jul 2024

Central Asia, Uzbekistan, International Affairs, Business & Economy, Uzbekistan Business & Economy, Uzbekistan International Affairs

New Projects Launched in Uzbekistan’s Fergana Region

July 12, 2024
By Times of Central Asia

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.

12 Jul 2024

Home, Uzbekistan, Life & Culture, Uzbekistan Life & Culture

Eurasian Creative Week Held in Uzbekistan

October 8, 2024
By Stephen M. Bland

From 22 to 29 June, Uzbekistan hosted the first international World Coaching Championship, as part of the 8th international festival, Eurasian Creative Week. The festival events spanned three cities: Tashkent, Khiva, and Nukus, marking an expansion in scope from previous editions. The festival program commenced in grand fashion at TEAM University in Tashkent with a charity ball hosted by Silk Road Media Ltd. Over a hundred guests from various countries attended, highlighting the festival’s role in fostering international connections.

The charity ball began with a warm welcome from Andrew Wachtel, Chairman of the Board of Directors of TEAM University, and continued with insights from Marat Akhmedjanov, founder of Silk Road Media Ltd. The event celebrated the festival’s 20th anniversary and showcased the charitable projects of the holding. Noteworthy figures such as artist, Alinur Rashidov, and composer, Tolibkhon Shahidi were part of the guest list, demonstrating strong support for promoting creative endeavors in the Eurasian region.

The festival also saw the inauguration of the World Coaching Championship, a unique competition organized by Silk Road Media in collaboration with the Elena Bezrukova Center. The championships culminated in an awards ceremony where the winners were recognized for their excellence and innovation in coaching.

As the festival unfolded, attendees were immersed in cultural experiences, from poetry lessons to animated video presentations on ecology. The journey through Tashkent, Khiva, and Nukus showcased the artistic talents of the region and underscored the importance of fostering international dialogue and cooperation in the creative industries.

Overall, the Eurasian Creative Week served as a testament to the power of art and collaboration in bridging cultural divides and nurturing a sense of unity among diverse communities. Through initiatives like the World Coaching Championship and the immersive exhibitions at the Savitsky Museum, participants were able to exchange ideas, showcase their talents, and celebrate the vibrant heritage of Eurasia.

12 Jul 2024

Home, Justice, Kazakhstan Justice, Kazakhstan International Affairs

Law Firm That Helped Johnny Depp Has Another Big Client: Kazakhstan

July 12, 2024
By Times of Central Asia

Two American attorneys who represented actor Johnny Depp in his libel case against former wife Amber Heard have visited Kazakhstan’s Constitutional Court and spoken to Kazakh university students this week.

Attorneys Camille Vasquez and Benjamin Chew work for Brown Rudnick, an international law firm that has a client in Kazakhstan: the Ministry of Justice. The firm, whose primary address is in Boston, has been engaged to help the Kazakh ministry in legal processes in Britain and the United States, according to a February filing with the U.S. Department of Justice.

In recent years, Kazakh authorities have pursued an international campaign to recover assets that they say were stolen and moved abroad.

Vasquez and Chew became familiar faces for many people during the Depp vs. Heard 2022 trial, which was livestreamed and set off a fresh round of debate about celebrity culture and the MeToo movement. A jury awarded $15 million to Depp, who had accused Heard of lying when she said he had abused her, though it also awarded $2 million to Heard in a separate decision. Later, Depp agreed to receive $1 million and pledged it to charity.

Vasquez in particular became something of a celebrity herself during and after the trial. She has worked as a legal analyst for NBC News and was elevated to partner at Brown Rudnick, which had helped Depp. Chew joined the firm as a partner in 2018.

Vasquez “talked about the importance of personal brand in the court of law and in the court of public opinion” in comments at the International School of Journalism of Maqsut Narikbayev University in Astana, the Kazakh capital, the school said on Wednesday. The school, which opened last year after a presidential instruction, said the lawyer offered tips about embracing identity, creating value, how to “grow” and time management.

As the attorney spoke, images appeared on the screen behind her. One showed Depp in his “Pirates of the Caribbean” garb.

Vasquez and Chew also visited the Constitutional Court in Astana and discussed gender equality and strengthening women’s rights in the judiciary, Tengri News reported, citing the court’s press service.

11 Jul 2024

Kazakhstan, Kazakhstan International Affairs, Kazakhstan Business & Economy

Kazakhstan Urges Bulgaria to Utilize Potential of Trans-Caspian Transport Route

July 11, 2024
By Sergey Kwan

Bulgaria, like Kazakhstan, plays an important transit role in the growing trade between the EU, Central Asia, and China.

In his speech at the forum “Transport Connection between Kazakhstan and Bulgaria, on July 10 in Sofia organized by the Embassy of Kazakhstan to Bulgaria, Ambassador of Kazakhstan to Bulgaria Viktor Temirbayev emphasized the need for both countries to intensify cooperation in transport and transit by focusing on the development of the Trans-Caspian International Transport Route (TITR).

Addressing representatives of Bulgarian transport companies, Ambassador Temirbayev highlighted the fact that Kazakhstan’s location in the center of the Eurasian continent creates favorable conditions for using its transport network for transcontinental routes connecting East and West, as well as North and South.

Forum participants were briefed on ongoing efforts by Kazakhstan’s government to increase cargo transportation along the Trans-Caspian International Transport Route, as well as the development of a new automobile route for cargo transportation through Turkmenistan, Iran, Turkey and on to EU countries through Bulgaria and Romania.

In support, Yassen Ishev, Chairman of Bulgaria’s Scientific and Technical Union of Transport (STUT), stressed the importance of increasing cooperation in transport and logistics and in particular, establishing direct business contacts between the two countries’ transport companies.