• KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
  • KZT/USD = 0.00223
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29850
03 October 2026

Viewing results 1 - 6 of 3

Opinion: Financing Nature: Why Biodiversity Investment Matters for Central Asia

Just imagine: only 50 years ago, wildlife was far more abundant across many of the world’s forests, grasslands, rivers, and seas. According to the World Wide Fund for Nature’s Living Planet Report 2024, the average size of monitored vertebrate populations fell by 73% between 1970 and 2020, based on data from almost 35,000 populations worldwide. That extraordinary decline has taken place within a single human lifetime. We are used to treating this as an environmental statistic, a sad fact trotted out in a nature documentary to which we have little emotional connection. Seen this way, we miss a vital truth: food, agriculture, construction, and forestry all depend immensely on natural systems. Pollination, water filtration, soil fertility, and flood control are among the functions that biodiversity provides for us. When that infrastructure fails, the economy built on top of it becomes more expensive, then less reliable, and eventually, in some places, unworkable. Emergency Room Most of what passes for environmental action today is triage. A river floods a city that paved over its wetlands, and engineers are called in to build higher walls. A heat wave kills crops, and governments subsidize irrigation for farmland that used to be forest. A fishery collapses, and the response is a moratorium, arriving years after the fish are already gone. This is the pattern across almost every domain of environmental policy: we manage consequences with enormous expense, and we manage causes almost as an afterthought. It is also the least efficient way to run a planet. Treating a symptom after it has metastasized costs orders of magnitude more than preventing it, financially as much as ecologically. Some of this triage is now unavoidable. The carbon already in the atmosphere will continue influencing the climate for years regardless of what we do next, while a great deal of the damage caused by air pollution is already locked in and can only be managed, not undone. These are debts we are stuck repaying. Biodiversity is often different because it is still substantially in our hands. A species pushed to the edge can, with sustained effort, be pulled back from it. A degraded watershed can, over a generation, recover its function. In Kazakhstan, recent estimates place the snow leopard population at between 152 and 189 animals, close to levels last recorded in the 1980s. The recovery has been associated with sustained monitoring and habitat protection. It demonstrates that when species and ecosystems are effectively managed and adequately protected, conservation measures can deliver tangible results by maintaining biodiversity and helping threatened species recover. That kind of recovery is rare in climate policy. This disconnect risks creating dangerous trade-offs. We cannot decarbonize an economy while continuing to bulldoze the ecosystems around it. An electric vehicle removes tailpipe emissions from a city street, and that is real progress. But it also requires critical minerals such as lithium, copper, nickel, and cobalt, whose extraction can carry substantial environmental costs. None of this is a criticism of electric vehicles. It is a reminder...

AIFC Interview: Central Asia Investment, Middle Corridor and ESG

The Astana International Financial Centre (AIFC) positions itself as a platform for international investment in Kazakhstan and across Central Asia. In an interview with The Times of Central Asia, Zhanbolat Kakishev, Chief Product Officer at the AIFC Authority, discussed competition for investment, financing for the Middle Corridor, investor protection, ESG, and currency risks. Kakishev said the AIFC ecosystem has attracted $26.3 billion in investment to Kazakhstan and registered more than 6,000 companies from 90 countries. TCA: How does the AIFC assess the current investment climate in Central Asia amid the fragmentation of global markets, and what share of foreign direct investment into the region does the centre aim to attract in the coming years? Zhanbolat Kakishev: We assess Central Asia’s investment climate as resilient and gradually strengthening despite the fragmentation of global markets. Moreover, the restructuring of global supply chains and investors’ search for new sources of growth are creating additional opportunities for the region. International investor interest in Central Asia already rests on a solid foundation. According to UNCTAD, by the end of 2025, the stock of foreign direct investment in the region had reached approximately $235.5 billion, of which $156.4 billion was in Kazakhstan. The region combines a substantial resource base, a growing domestic market, and a strategic position between Europe and Asia. It also has significant investment potential in areas including transport and logistics, energy, critical minerals, digitalisation, and financial services. The AIFC does not set a target in the form of a fixed share of total FDI flowing into Central Asia. Our task today is to continue improving the AIFC ecosystem, its infrastructure, and the conditions that allow international capital to enter Kazakhstan effectively, as well as to participate in regional projects. To date, $26.3 billion in investment has been attracted to Kazakhstan through the AIFC ecosystem. More than 6,000 companies from 90 countries are registered in the Centre’s jurisdiction. For us, however, it is not only the volume of capital attracted that matters, but also its quality — long-term investment that contributes to economic diversification, private-sector development, and the further integration of Kazakhstan and Central Asia into global capital markets. TCA: Given the growing interest in the Middle Corridor, or Trans-Caspian International Transport Route, what investment instruments does the AIFC offer to finance major infrastructure and logistics projects in the region? Zhanbolat Kakishev: The AIFC provides comprehensive legal and financial infrastructure for structuring and attracting financing for major infrastructure and logistics projects, including those along the Middle Corridor. Depending on the structure of a project, special-purpose vehicles or companies (SPVs/SPCs), joint ventures, and investment funds can be used to pool capital from strategic, institutional, and private investors. Through the Astana International Exchange (AIX), projects can also raise debt and equity financing, including through conventional, green, and sustainability bonds, as well as Islamic finance instruments such as sukuk. For large infrastructure projects, the ability to combine different sources of capital is particularly important. These can include financing from international financial institutions and banks, funds from strategic...

ADB Provides Tajik Bank with First Direct Loan of $10 Million

Bank Eskhata OJSC (Open Joint-Stock Company) and the Asian Development Bank (ADB) have signed a direct lending agreement, marking a new stage in financing for small and medium-sized enterprises (SMEs) in Tajikistan. This is the first time the ADB has issued a direct loan to a Tajik bank, bypassing intermediary financial institutions. The ADB stated that the format reflects a high level of trust in the partner bank and confidence in its stability within the national financial market. Tajikistan has been a member of the ADB since 1998. Under the terms of the agreement, the ADB is providing a loan in local currency equivalent to $10 million. The funds are intended to support entrepreneurs implementing environmentally friendly and energy-efficient technologies, as well as projects that reduce environmental impact and contribute to building a sustainable economy. Akmaljon Saifidinov, CEO of Bank Eskhata, described the agreement as strategically important. “We are honored to be the first financial institution in Tajikistan to receive direct lending from the ADB. This landmark event opens new horizons for supporting MSMEs and advancing green finance,” he said, referring to micro, small, and medium-sized enterprises. He added that the partnership with the ADB further strengthens the bank’s role as a leader in innovative financial solutions. The ADB expects the direct lending mechanism to significantly improve access to financing for businesses. “Direct lending will significantly expand enterprises’ access to financing and serve as a key stimulus for the development of green initiatives in Tajikistan,” said Ko Sakamoto, head of the ADB office in Dushanbe. The loan is expected to support projects in energy efficiency, green technologies, and sustainable business models, areas that have traditionally lacked access to long-term financing. In a separate initiative, the ADB recently approved a $3 million grant to enhance Tajikistan’s capacity for glacier monitoring and natural disaster forecasting.  The project includes the creation of a unified digital system for analyzing risks related to snow and ice melt and aims to improve public safety in mountainous regions.