• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.10811 -0.28%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
10 December 2025

EDB To Help Tajikistan’s Somon Air Buy Two Aircraft

The Eurasian Development Bank (EDB) on February 7th said it is working to provide $100m in funding to Tajikistan’s Somon Air, so that the national air carrier can acquire two Boeing 737 aircraft.

Somon Air plans to procure two Boeings in 2024. The airline’s passenger traffic has been on the rise since 2020 and surpassed pre-pandemic levels last year, reaching 787,600 passengers in 2023 compared with 672,500 in 2019.

Presently Somon Air operates its primary passenger flights with a fleet consisting of six Boeing 737 aircraft of various modifications.

EDB is a multilateral development bank with member countries including Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. 

Kyrgyzstan To Pay Over $1.2bn Of Foreign Debt Before 2026

Kyrgyzstan is increasing the volume of payments on its external debt. In 2023 the country paid $344m of its foreign debt, and this year it is due to settle $400m. In 2025 the figure will be $430m, declining to $390m in 2026, the chairman of the Cabinet of Ministers Akylbek Japarov announced on February 7th

According to the most recent data from the Ministry of Finance, as of November 2023 public debt amounted to $6.1bn, including $4.5bn of external debt and $1.6bn of internal debt.

Over half (52.8%, or $2.4bn) of the external debt consists of multilateral loans. The country owes $2.1bn as part of bilateral concessional loans. Of these, 37.6% ($1.7bn) is owed to the Export-Import Bank of China.

Kazakhstan And Hungary To Cooperate On Petrochemicals

The Hungarian oil and gas company MOL Group has shown interest in a joint petrochemical project using natural gas from Kazakhstan’s Rozhkovskoye gas condensate field, the Kazakh national oil and gas company KazMunayGas has announced.

The potential partnership was discussed at a February 7th meeting in Budapest between KazMunayGas’ deputy chairman, Serikkali Brekeshev, Hungary’s deputy minister of foreign affairs, Levente Magyar, and executives from MOL Group. 

The parties discussed cooperation in the field of petrochemicals and gas processing, including the development of the Rozhkovskoye field, supplies of Kazakh crude oil and gas condensate.

MOL Group expressed interest in the supply of Kazakh oil for processing at Hungarian oil refineries, as well as importing gas condensate from the Rozhkovskoye field.

The Rozhkovskoye gas condensate field was put into commercial operation in the West Kazakhstan region in December 2023. By 2040, the field is expected to produce 14.2bn cubic meters of natural gas and 7.1m tons of condensate. The field is operated by a joint venture of KazMunayGas (50%), MOL Group (27.5%), and China’s Sinopec (22.5%). 

Kazakhstan To Work With United Kingdom On Green Energy

At a February 6th meeting between Kazakhstan’s minister for energy, Almasadam Satkaliev, and the country’s British ambassador Kathy Leach, it was announced that the United Kingdom is ready to work with Kazakhstan on developing wind and solar energy projects. Great Britain may also support Kazakhstan in strengthening the country’s electrical networks, switching its coal-fired industrial plants to gas, and conducting research in the field of hydrogen energy, biogas and carbon capture technologies. These updates were provided by the Kazakh Energy Ministry.

The British embassy informed the ministry of the UK Fund for Climate, Energy and Water Security for Central Asia, totaling almost £20m ($25.2m), to be used over a three-year period.

At the meeting Mr Satkaliev presented Kazakhstan’s plans for gradually decarbonizing its economy, as part of its target to achieve carbon neutrality by 2060. Ambassador Leach emphasized that Kazakhstan joining the Global Methane Pledge, which president Kassym-Jomart Tokayev announced at COP-28 in December 2023, creates many more opportunities for the country to attract financing for low-carbon technology projects.

Keeping Central Asia Out of Conflicts: An Interview with Political Analyst Uran Usenov

In recent years the ability of diplomacy to ensure a stable world has been steadily declining, with the outbreak of more wars and international misunderstandings. The latest evidence of this trend is the conflict between Israel and Hamas, the war in Ukraine, as well as rising Iran-U.S. tensions. At the same time, ties between Iran and the countries of Central Asia have started to intensify. We spoke about this with Uran Usenov, a political analyst from Kyrgyzstan with extensive experience in international structures, including at the UN and the OSCE Special Monitoring Mission to Ukraine, where he worked between 2014 and 2022. Usenov is currently a Special Issues Consultant at the World Bank.

TCA: Recent years have seen an active expansion of relations between the countries of Central Asia and Iran. Is it dangerous or advantageous these days to have a friend who supports Palestine, and even attacks U.S. military targets?

UU: Indeed, Iran has recently intensified cooperation with Central Asian countries at a political level and even abolished visa requirements for some Central Asian countries. Such cooperation clearly carries political risks. Iran and the U.S. are basically in a cold war. And of course, any deepening of relations [with one side] will be regarded as taking a side in the conflict. In general, the countries of Central Asia have taken a cautious position in every [current] conflict. Regarding the conflict in Palestine, the Central Asian countries overall do not support Israel’s military operation. Iran is a large country in the region and an immediate neighbor of Central Asia – the issue of expanding cooperation is just a matter of time.

TCA: Could this draw Central Asia into the Israeli-Palestinian conflict, especially against the backdrop of last year’s call by Iranian President Ebrahim Raisi to Muslim countries to “arm Palestine?”

UU: I think this is an unlikely scenario. The countries of Central Asia generally support a multi-vector foreign policy. Despite Iran’s regional proximity, it is also important for Central Asian countries to maintain relations with the EU and the U.S., which are among the main contributors to the Central Asian economies.

TCA: We remember numerous stories of citizens of Central Asian countries, especially young people, joining ISIS in Syria, so it seems possible that at a certain stage in the Israeli-Palestinian conflict Central Asian people may again want to go and fight. How can this be prevented, or is it impossible?

UU: Of course, it is impossible to fully prevent citizens of Central Asia from fighting in any of these conflicts, especially the Palestinian-Israeli conflict. But I think this will not be widespread. In the criminal codes of Central Asian countries, there is an article against fighting as a mercenary, with real prison time for taking part in any unauthorized military conflict. Still, we understand that this rule will not stop certain people. At the state level, not enough educational and preventive work is carried out among young people, and this is a failure of state policy.

TCA: In the event of an escalation in one of the mentioned conflicts, is it possible that other “frozen” conflicts in the East will heat up? Syria, Afghanistan…

UU: Yes, there is such a risk. If you look at the Russia-Ukraine conflict, some “frozen” conflicts turned hot after it started. There is no direct connection, of course, but there are repercussions. There is probably some ideological link in all these conflicts. In fact, the world seems on the verge of World War III, and only the existence of nuclear weapons is holding back sides from starting it. There may be no winners if it breaks out.

TCA: Given this agenda in the information space, what needs to be done to prevent, even at a mental level, civil fragmentation on religious grounds?

UU: It’s a difficult question. I think there should be good government policy, especially for young people. The states of Central Asia must carry out the relevant educational and preventive work among young people. If young people are well-raised and educated, then I think [the problem of] their getting involved in dubious conflicts will disappear by itself. Of course, this requires resources and political will.

TCA: How do you see all these events playing out? What, in your view, is missing in the world today to stop such conflicts from occurring, or are they inevitable?

UU: Unfortunately, conflicts do not arise out of nowhere. They have deep roots. It often happens that the sides do not aim to resolve the problem peacefully and, because of this, the conflict turns hot. To resolve a conflict, you need good will and a real desire to resolve the problem. I hope prudence will prevail in addressing international problems. It is difficult to make predictions, but it seems that the current conflicts will not be resolved in the near term. The overall situation in the world is very challenging. It would be a major achievement if the current conflicts did not expand. As they say, a bad peace is better than a good war.

 

Uran Usenov is a political analyst and a Special Issues Consultant at the World Bank

Kyrgyz Authorities Confiscate $35 Million of Oligarch Matraimov’s Assets – Plan to Nationalize Another $50 million of Property

Kyrgyzstan’s State Committee of National Security (GKNB) has stated that following an investigation aimed at returning embezzled property into state ownership as part of a criminal case against former deputy chairman of the Customs Service, Raimbek Matraimov, the government has seized real estate worth $34,810,000.

At the end of January 2024, the authorities placed the infamous oligarch Matraimov, who has bounced in and out of custody since 2020, on a wanted list. Matraimov, who is popularly known as “Raimbek-million” for his multi-million dollar fortune has already pleaded guilty to embezzlement, and is now charged under the article “illegal deprivation of liberty” on suspicion of abducting and illegally incarcerating unnamed individuals. The former deputy head of the Customs Service previously had extensive connections in the Kyrgyz parliament and government, and went unpunished for years. In 2021, the U.S. authorities banned Matraimov and his family members from entering the country.

Head of the GKNB, Kamchibek Tashiev, accused Matraimov of creating a mafia clan. “Raimbek Matraimov has been put on a wanted list. All of his property… throughout Kyrgyzstan will go into the ownership of the state. We will not leave even a [plot] of land. He will no longer be Raimbek-million as he used to be. There will be no such thing as a clan. To destroy this clan, in the Osh region [alone] we fired about fifty people from state bodies,” Tashiev stated.

In 2019, the State Service for Combating Economic Crimes launched an investigation into corruption in the Kyrgyz Customs bodies. Earlier, documents had found their way into the hands of journalists showing that Matraimov had withdrawn about $700 million from the country through various banks over a period of seven years. However, investigators didn’t find Matraimov’s property abroad. In 2021, Matraimov was found guilty of corruption and convicted, but after paying a $22.5 million fine to the state, he was released.

Law enforcement has since uncovered more of the oligarch’s assets worth another $50 million. The GKNB is continuing to search for more assets obtained by criminal means in order to later transfer them to the state, according to the agency’s press service.

Matraimov’s whereabouts are currently unknown.