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Finance EBRD Banking Healthcare Infrastructure Development Public health

EBRD Supports Healthcare and Municipal Transport Projects in Kazakhstan

The European Bank for Reconstruction and Development (EBRD) has supported Kazakhstan's first healthcare sector public-private partnership (PPP) project, and provided finance for a tram fleet renewal program in the Kazakh city of Pavlodar. The EBRD arranged a €365 million financing package provided by six financial institutions to construct and operate a 630-bed multidisciplinary hospital in Kokshetau, northern Kazakhstan. The financing, including the EBRD’s €105 million loan, will be provided to a Kazakhstan-based subsidiary of Rönesans Holding of Turkey. The project will be co-financed through parallel loans totaling up to €260 million provided by the Asian Infrastructure Investment Bank (AIIB), the German investment corporation DEG, the Islamic Corporation for the Development of the Private Sector (ICD), Proparco, a subsidiary of Agence Française de Développement, and the Development Bank of Kazakhstan (DBK). This first PPP in the healthcare sector of Kazakhstan and Central Asia will be a greenfield development of a 110,000 m2 facility, which will provide services to more than 730,000 people living in the city of Kokshetau and the broader region of Akmola. According to the PPP agreement, the private partner will be responsible for maintaining the facility and running a digital hospital information management system. At the same time, Turar Healthcare, a state-owned, non-profit national healthcare operator, will provide medical services. EBRD President Odile Renaud-Basso, who was visiting Kazakhstan, commented: “The EBRD is pleased to join forces with our longstanding client Rönesans Holding to launch the first healthcare sector PPP in Kazakhstan and the region. PPPs are recognized as one of the most effective forms of long-term contractual relationships between the public and private sectors. They will help provide sustainable healthcare solutions, introduce new technologies, and improve the quality of medical services.” The EBRD has also announced support for a tram fleet modernization program in the north-eastern Kazakh city of Pavlodar. The EBRD’s loan of up to €10 million to Pavlodar tram management company will help the company acquire up to 25 energy-efficient trams. A €4 million loan from the Clean Technology Fund will co-finance the project. The tram company handles almost 40 percent of passenger traffic in the city, with a population of more than 360,000. Yet nearly 60 percent of the company’s fleet was commissioned in the 1970s and 1980s and requires urgent renewal. New battery-powered trams will have an autonomous driving range of up to 20 km, which means they can continue operating during electricity outages. The EBRD has invested €10 billion in 328 projects in Kazakhstan, most of which support private entrepreneurship.

Finance Banking Healthcare World Bank IMF IDB Public health

IDB to Fund $156.3 Million for Cancer Hospitals in Turkmenistan

Turkmenportal reported that a Turkmenistan delegation visited Washington DC from October 22 to 26 to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank, along with related events. During the visit, representatives of Turkmenistan's financial and banking sector engaged in bilateral discussions with foreign partners. According to the Saudi Press Agency, the Islamic Development Bank (IDB) has approved $156.3 million in funding to build three specialized cancer treatment hospitals in Turkmenistan. These modern facilities will be located in Balkanabad, Turkmenabad, and Mari, with a combined capacity to serve over 11,750 patients. The agreement was signed in a meeting between IDB President Muhammad Al Jasser and Rahimberdi Jepbarov, Chairman of the State Bank for Foreign Economic Affairs of Turkmenistan. Meanwhile, on October 24, Swiss pharmaceutical company Roche, in partnership with Nobel Almaty Pharmaceutical Factory, launched the production of innovative drugs in Almaty, Kazakhstan. This initiative is part of an agreement between Roche, Kazakhstan’s SK-Pharmacy, Nobel, and the Kazakh Research Institute of Oncology and Radiology, supported by Kazakh Invest. Under this collaboration, Roche will locally produce three biotechnological drugs to treat HER2-positive breast cancer, a highly aggressive form affecting up to 20% of breast cancer patients in Kazakhstan.

EU Cooperation Finance Banking Government Economic Cooperation

Italian Bank to Enter Kazakhstan Market

An Italian state bank, Cassa Depositi e Prestiti, plans to establish a new credit line in Kazakhstan, as announced by Edmondo Cirielli, Italy’s Deputy Minister of Foreign Affairs and International Cooperation. Cirielli made the announcement during his meeting with Arman Shakkaliyev, Kazakhstan’s Minister of Trade and Integration, on October 29 in Astana. Cirielli stated: "We are confident that our relations will only strengthen in the trade and economic sphere. Kazakhstan occupies a key position in Central Asia and connects Europe with the region. We plan to open a credit line of our state bank, Cassa Depositi e Prestiti, in Kazakhstan.” Minister Shakkaliyev noted that Italy is Kazakhstan's third-largest trading partner among European Union countries. In 2023, trade turnover between the two countries amounted to $16.1 billion, 7.8% more than the previous year. Exports from Kazakhstan to Italy reached $14.8 billion, and imports stood at $1.2 billion. In January-August 2024, bilateral trade increased by 33%, reaching $13.8 billion, with Kazakh exports rising by 36% to $12.9 billion. Astana hosted the 9th Kazakh-Italian working group meeting on economic and industrial cooperation on October 29. Deputy Minister of Foreign Affairs Edmondo Cirielli headed the Italian delegation. The meeting focused on increasing the transportation volume along the Trans-Caspian International Transport Route, which will create additional opportunities for bilateral trade. The parties also confirmed their interest in developing the transport and logistics sector. Kazakhstan proposed expanding cooperation in the agricultural sector, including fruit and vegetable growing and grain processing and expressed its readiness for long-term partnerships with Italian grain processors and the supply of high-protein wheat to the Italian market. Italian companies were encouraged to invest in Kazakhstan's renewable energy sector and the Khorgos Special Economic Zone, strategically located on the Kazakh-Chinese border.

Finance Banking ADB Infrastructure Development Transportation Economy growth

ADB to Help Upgrade Strategic Road in Kazakhstan

The Asian Development Bank (ADB) has approved a sovereign-guaranteed local currency loan of up to $291.49 million for KazAvtoZhol, the company overseeing the planning, construction, operation, and maintenance of Kazakhstan's national highways. This loan will support reconstructing a 208-kilometer road connecting Kyzylorda and Zhezkazgan in central Kazakhstan. The project will upgrade the existing two-lane highway to a higher-standard, climate-resilient two-lane road, providing all-weather access and reducing travel time from 4 to 2 hours. The reconstruction will also improve domestic and regional connectivity and road safety and promote national and international trade. ADB Director General for Central and West Asia Yevgeniy Zhukov commented: “By improving the Kyzylorda–Zhezkazgan corridor, we are addressing critical infrastructure constraints that hinder Kazakhstan’s economic growth and balanced regional economic development. The project road is also crucial for leveraging Kazakhstan’s geostrategic advantage and boosting regional and global integration.” Kazakhstan, the largest economy in Central Asia, is well-positioned to become a bridge between Asia and Europe. However, due to inefficiencies and high transport and logistics costs, the country needs help leveraging its strategic position. The country has also seen a high traffic fatality rate, with 12.2 deaths per 100,000 people in 2021. The ADB project incorporates rumble strips, safer pedestrian crossings, and interchanges to improve road safety. These measures are expected to significantly reduce accidents and enhance the overall safety of the road corridor.

ADB Banking EBRD Women-owned Enterprises Finance Infrastructure Development

ADB Finances Road Reconstruction in Tajikistan

The Asian Development Bank (ADB) has approved a $86.67 million grant to help Tajikistan expand its degraded two-lane 49-km Dangara–Guliston highway to four lanes. Commenting on the move, ADB Director General for Central and West Asia Yevgeniy Zhukov said: “ADB, in partnership with other organizations, promotes safe, accessible, and green transport infrastructure and services in our developing member countries. The Dangara–Guliston road, constructed in the 1930s and reconstructed in the 1970s, will become the first road in Tajikistan to incorporate climate adaptation and elements specific to women's needs." The project will fund two pilot charging stations and develop investment frameworks to catalyze private sector investment in Tajikistan's national charging infrastructure rollout. Safety is a high priority and to this end, the newly reconstructed road will include dedicated cycleways, wide sidewalks for people with children and disabilities, improved lighting and well-marked pedestrian crossings. Special toilets and changing facilities will be provided for mothers and babies, while public transport facilities will include preferential seating for people with disabilities. In addition to the above, the fund will incorporate training programs for women living in and around the project area to open and run small businesses, and award entrepreneurship grants to selected participants. The Tajikistan government has pledged $23 million towards the realization of the project whilst subject to its Board’s approval in early 2025, the European Bank for Reconstruction and Development (EBRD, will provide a $40 million co-financing loan. Tajikistan’s Ministry of Transport plans to complete the project in 2030.

Finance Banking Strategy National Bank Digitization Digitalization

Kazakhstan Prepares to Introduce Digital Currency

At this week's Central Asia Fintech Summit in Almaty, the Digital National Bank of Kazakhstan presented its vision for a digital version of the country's currency, the tenge. The digital tenge is an electronic version of Kazakhstan's national currency issued by the National Bank. It is designed to complement cash and non-cash forms of money by making financial services available in digital format. Digital tenge can be used for instant payments and transfers, settlements between individuals and businesses, and payment for goods and services through mobile banking applications. This currency is particularly useful in e-commerce, government services, financial technologies, and cashless settlements. It also supports the development of smart contracts, allowing for the automation of financial transactions. The introduction of the digital tenge promotes transparency in financial transactions and improves access to financial services in remote and rural areas. Advisor to the Chairman of the National Bank, Binur Zhalenov, said that the project is planned to be completed within five years. Some components, such as the digital tenge and a single QR in pilot mode, are already being implemented. Full implementation of the digital tenge, including the connection of all second-tier banks, is expected by 2025. Zhalenov noted that the platform is ready and operates based on the National Payment Corporation. In the coming years, it is planned to actively connect financial organizations and expand the digital tenge's capabilities. Last year, Zhalenov explained that using the digital tenge will require an existing banking app for one of the project participants. Thus, users will be able to link a digital tenge account to their current payment card without the need to install additional programs.