Financial institutions are investing in Central Asia
Central Asian region is becoming attractive to international financial institutions. The financial centers actively invest in major infrastructure projects and development banks. The main focus is the support of industries with high added value as well as programs to improve the energy efficiency of the economy and of other areas. According to experts, interest in Central Asia is due to the economic growth of the region’s countries and a stable political environment. Furthermore, the important point is the fact that the region’s population has reached 70 million people.
MURAT ALKENOV, ACTING DIRECTOR, EURASIAN DEVELOPMENT BANK:
- We finance a number of infrastructure facilities in energy, communications as well as projects related to mining and metallurgy. Our projects are estimated at over US$30 million. We invest in a number of projects of the Central Asian countries, such as Kyrgyzstan, Kazakhstan and Tajikistan, where we join efforts for integration and trade.
According to experts, today Kazakhstan’s projects made up the largest share of investments by international financial institutions. The Asian Development Bank plans to invest US$3 billion in Kazakhstan until 2021. The priorities for investing include development of public-private partnerships, agribusiness, support for agriculture and sustainable development of the green economy. One of the projects is the creation of the Knowledge Center for Integrated Water Resources Management. The center will collect all the knowledge and experience of Kazakhstan during its years of independence and will pass them to the neighboring countries of the region.
GIOVANNI CAPANNELLI, ADB COUNTRY DIRECTOR FOR KAZAKHSTAN:
- So center like Kazakhstan Knowledge Center for Integrated Water Resource Management in the first place wants to serve as a single window, one stop shop where you collect all this data and information about water in the country. Now it is very fragmented, you need to go to many plurality of institutions to get information. The center will be very helpful introducing technology. A new technology that can be effective introducing water is a satellite remote sensing with the images that come from satellites and now they are provided for free.
Analysts say that the growth of investments in the region proves Central Asia’s important role on a global scale and its high economic and transit-transport potential.