• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00188 -0%
  • TJS/USD = 0.10495 0.38%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
18 July 2025

Viewing results 1 - 6 of 16

Uzbekistan, Azerbaijan, and Kazakhstan Launch Joint Venture for Green Energy Corridor

Energy companies from Uzbekistan, Azerbaijan, and Kazakhstan have launched a joint venture to support the development of the Caspian Green Energy Corridor, according to the press service of National Electric Networks of Uzbekistan. The new company, “Green Corridor Alliance,” was officially established on July 1 in Baku. It brings together three national power operators: Azerbaijan’s Azerenerji, Kazakhstan’s KEGOC, and Uzbekistan’s National Electric Networks. The joint venture is expected to play a pivotal role in exporting green electricity to Europe while bolstering long-term energy security across the region. Officials have highlighted the corridor’s strategic importance in advancing sustainability goals. “This initiative is important for our energy security and green growth,” the Uzbek side stated. As previously reported by The Times of Central Asia, the Caspian Green Energy Corridor is supported by the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). In April, the three countries signed a Memorandum of Understanding with both institutions in Baku to initiate a feasibility study. The corridor aims to enhance cross-border electricity trade and promote renewable energy use throughout Central Asia and the Caspian region. The long-term objective is to integrate the power grids of Uzbekistan, Kazakhstan, and Azerbaijan, creating a streamlined route for clean energy exports to Europe. The agreement builds on a strategic partnership formalized by the presidents of the three countries during the COP-29 climate summit held in Baku in November 2024.

AIIB and Uzbekistan Finalize $71.1 Million Loan for Climate-Resilient Rural Roads

Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) have concluded a $71.1 million loan agreement to upgrade rural roads in the Khorezm and Karakalpakstan regions. The deal was finalized during the AIIB’s 10th Annual Meeting in Beijing. The loan will finance the first phase of the Karakalpakstan and Khorezm Local Roads Network Reconstruction Project, which aims to modernize rural road infrastructure to improve climate resilience and community accessibility. The project is expected to facilitate better access to markets and essential public services for rural populations. The total cost of the project is projected at $173.4 million, with a second loan tranche planned to cover the remaining amount. The initial phase will prioritize road improvements in Khorezm, while the second tranche will address road upgrades in the Republic of Karakalpakstan. According to the AIIB, a phased approach will allow Uzbekistan to better manage its fiscal resources and enhance project planning and execution. This method also enables the bank to provide tailored technical assistance and integrate lessons learned from earlier phases into subsequent work. This initiative builds on a broader partnership between Uzbekistan and the AIIB. In 2024, the bank approved a $250 million program to support the country's transition to a greener economy. That package includes measures to reduce greenhouse gas emissions, reform climate-related policies, and promote sustainable land and water management, as well as low-carbon transportation and energy solutions. The AIIB also backs Uzbekistan’s efforts to boost energy efficiency, expand renewable energy capacity, promote e-mobility, and encourage state-owned enterprises to adopt climate risk reporting practices. The rural roads project aligns with Uzbekistan’s wider development agenda, which includes modernizing infrastructure, revitalizing underserved regions, and fostering long-term sustainability.

AIIB Commits $500 Million to Tajikistan’s Rogun Hydropower Project

The Beijing-based Asian Infrastructure Investment Bank (AIIB) has approved a multiphase program totaling $500 million, including an initial Phase 1 loan of $270 million, to support Tajikistan’s flagship Rogun Hydropower Plant (HPP) project. The announcement was made on January 6, following the financing approval on December 19, 2024. The Rogun HPP, located on the Vakhsh River — a tributary of the Amu Darya River — lies 110 kilometers from Dushanbe, Tajikistan’s capital. With a designed generation capacity of 3,780 MW, a 335-meter-high dam, and a reservoir spanning 170 square kilometers, the Rogun HPP is expected to deliver improved electricity access to around 10 million people. It aims to address Tajikistan’s chronic winter power shortages and position the country as a key regional energy supplier. The project is co-financed with the World Bank, with potential contributions from a global consortium of donors. It seeks to enhance the supply of clean, affordable, and climate-resilient hydropower, with the potential to export electricity to neighboring Central Asian countries. As Central Asia’s energy demand is projected to grow by 40% by 2030 and triple by 2050, the Rogun HPP will play a pivotal role in increasing reliability and reducing the cost of electricity supply across the region. Konstantin Limitovskiy, AIIB Chief Investment Officer, commented on the significance of the project, stating: "This project will significantly contribute to the green energy transition and energy security of Central Asia. Investing in sustainable energy infrastructure is not merely about meeting today’s demands, but about empowering future generations with clean, reliable power that drives transformative growth, strengthens resilience, and unlocks the full potential of the region." Tajikistan ranks eighth globally in hydropower potential, yet only about 4% of this capacity is currently utilized. The Rogun HPP is set to play a critical role in decarbonizing electricity grids across Central Asia, supporting the region’s ambitious Nationally Determined Contributions (NDCs) under the Paris Agreement.

AIIB Forwards Construction of Strategic Bridge in Tajikistan

The Asian Infrastructure Investment Bank (AIIB) has approved a loan equivalent to US $75.5 million to Tajikistan for the construction of a 920-meter-long bridge and approach routes on the Obigarm-Nurobod section of M41 International Highway. The bridge is the first of such magnitude in Tajikistan and a critical component of the county’s road network. Linking Corridors 2, 3 and 5 of the Central Asia Regional Economic Cooperation Program, it will provide essential connections between Tajikistan’s landlocked terrain and neighbouring regional markets. Designed to withstand all weathers, the bridge will connect over 350,000 residents of the northeast region of Tajikistan to the capital Dushanbe, as well as the border of Kyrgyzstan. To align with Tajikistan’s National Development Strategy, the government has prioritized its timely completion and construction of the 75-kilometer Obigarm-Nurobod section has been divided into three phases to ensure synchronized implementation. Illustrative of a collaborative approach to advancing sustainable development and enhancing connectivity in Tajikistan, AIIB has fostered close coordination with other financiers, including the Asian Development Bank, OPEC Fund for International Development and European Bank for Reconstruction and Development. Lauding the initiative, Konstantin Limitovskiy, AIIB’s Vice President for Investment Operations in Region 2, commented: “The project aligns with two core thematic priorities of AIIB. First, it contributes to cross-border connectivity by establishing vital cross-border links with improved road safety along Tajikistan's essential corridor and ensuring connectivity between regions. Secondly, it embraces green-finance principles by integrating environmentally and socially responsible practices and promoting resilient sustainable mechanisms in the road infrastructure development.”    

Uzbekistan, AIIB Sign Three-Year Investment Program

As part of his state visit to China, on January 24th Uzbekistan president Shavkat Mirziyoyev visited the headquarters of the Asian Infrastructure Investment Bank (AIIB) in Beijing and held talks with the bank's president, Jin Liqun. The sides announced that cooperation between Uzbekistan and AIIB has reached unprecedented levels in recent years, with the portfolio of joint projects exceeding $3 billion. In 2023 alone the bank’s investments in Uzbek projects reached $1 billion, financing energy, water supply, reconstruction of roads and railway, and business development. Mr Mirziyoyev advocated increasing financing for projects involving strategic raw materials, and the implementation of socially important programs on the principles of public-private partnership, his press service reported. During the meeting, Mr Liqun reaffirmed his bank’s strategic commitment to supporting Uzbekistan's sustainable growth. The two leaders signed a three-year investment program, with the goal of further supporting Uzbekistan’s development in multiple sectors across the country, AIIB said.  In 2023, AIIB announced that it would hold its 2024 Annual Meeting in Samarkand, Uzbekistan, on September 25th-26th, marking the first time AIIB would hold its flagship event in Central Asia.  AIIB is a multilateral development bank which began operations in Beijing in January 2016 and has since grown to 109 approved members worldwide.

Afghanistan becomes permanent member of AIIB

KABUL (TCA) — The Afghan Ministry of Finance said on October 15 that Afghanistan has been granted permanent membership of the Asian Infrastructure Investment Bank (AIIB), TOLOnews reported. Continue reading