EBRD extends trade finance facility to VTB Kazakhstan The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Kazakhstan’s exporters and importers with a new $20 million trade finance guarantee facility to VTB Kazakhstan, a subsidiary of OJSC Bank VTB of Russia, to facilitate the financing of foreign trade at a time when lending to the real economy remains limited.
EBRD finances two district heating networks in Kazakhstan The European Bank for Reconstruction and Development (EBRD) is providing JSC Central-Asian Electric Power Corporation (CAEPCO) with a facility which will support the modernization of district heating networks resulting in better and more efficient services for the people of northern Kazakhstan.
EBRD extends energy efficiency investments in Kazakhstan The European Bank for Reconstruction and Development is helping to modernize Kazakhstan’s energy generation network with a senior secured loan of 3.1 billion Kazakh tenge (equivalent to €15 million) to AES Sogrinsk CHP power plant.
ADB lays groundwork for easier border crossing in Central Asia The Asian Development Bank (ADB) has approved a technical assistance grant for a feasibility study for the upgrading and modernization of border crossing points in Central Asia.
Kyrgyz Republic, Tajikistan sign cross-border transport agreement under CAREC Kubanychbek Mamaev, Permanent Secretary of the Ministry of Transport and Communications of the Kyrgyz Republic, and Olimjon Boboev, Minister of Transport and Communications of the Republic of Tajikistan, signed a Cross-Border Transport Agreement (CBTA) that will promote bilateral and regional trade. This is the first CBTA signed under the Central Asia Regional Economic Cooperation (CAREC) Program.
World Bank supports a safe and reliable electricity supply in Kazakhstan The World Bank Board of Directors approved a $78 million loan for the Kazakhstan Alma Electricity Transmission Project to the Republic of Kazakhstan to improve the reliability and quality of electricity supply to consumers in the Almaty region. The project will expand the capacity of the Almaty Oblast transmission network in an environmentally responsible and financially sustainable manner.
Expanding CAREC takes stock of a decade of cooperation The Central Asia Regional Economic Cooperation (CAREC) Program is holding its 9th Ministerial Conference (MC) as member countries take stock of a partnership that is laying the groundwork for a truly integrated and globally connected region.
Kazakhstan to get $800 million from ADB to improve roads, boost regional trade The Asian Development Bank (ADB) is extending a loan facility of up to $800 million to Kazakhstan to upgrade roads and boost transit trade along a key Central Asia transport corridor.
World Bank Group holds consultations with the Central Asian region on future energy strategy The World Bank Group held consultations in Central Asia to gather input for a new energy sector strategy, which is expected to be completed in early 2011.
CAREC program helping bolster regional ties in Central Asia: ADB Expanding transport, energy and trade links through regional cooperation to boost growth among the members of the Central Asia Regional Economic Cooperation (CAREC) community was highlighted at a seminar at ADB's 43rd Annual Meeting in Tashkent.
