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US companies interested in producing graphite and hydrogen i...

American entrepreneurs are interested in implementing a project to establish the production of needle coke, and based on it, graphite electrodes at th...

ADB allocates more than $2.5 bln to Kyrgyzstan over 29 years

The Asian Development Bank has allocated more than $2.5 billion to Kyrgyzstan since 1994. This became known on April 4 during the presentation of the ADB forecast for Central Asia, Economist.kg reports. More than $1.5 billion of them are loans, about $947 million are grants and $74 million are technical assistance, the report said. It is noted that in 2022, ADB approved $170 million to support development in a number of sectors in Kyrgyzstan, including to promote trade, strengthen health and e...

WB allocates $143 mln to Uzbekistan for installation of solar panels

The International Development Association, a member of the World Bank Group, has allocated $143 million to Uzbekistan, the News of Uzbekistan portal reports. These funds will be used to install solar panels on public tasks in Uzbekistan in the coming years. The project will be implemented with the support of the World Bank and will begin in 2023, with completion scheduled for 2028, the report said. President of Uzbekistan Shavkat Mirziyoyev approved the idea of installing solar panels on buil...

Tajik and Azerbaijani Presidents held talks in Dushanbe

Azerbaijani President Ilham Aliyev met with Tajik President Emomali Rahmon in an expanded format in Dushanbe, Trend agency reports. The Tajik side considers the visit of the head of the Azerbaijani state as a good opportunity to discuss in detail the topical issues of Tajik-Azerbaijani relations and identify new points of growth, President Rahmon said at the meeting. "The peoples of Tajikistan and Azerbaijan are bound by traditional ties of friendship that have long historical roots. It is gra...

Balance of payments surplus of Kazakhstan in 2022 amounted to $8.5 bln

The current account of the balance of payments of Kazakhstan in 2022, adjusted for the time lag on oil exports, developed with a surplus and amounted to $8.5 billion, Zakon.kz reports. This is the first surplus in the last nine years, said Deputy Chairman of the National Bank of Kazakhstan Akylzhan Baimagambetov. "The reasons for the positive current account balance remain unchanged - high prices for raw materials. In particular, the cost of oil at about $100 per barrel set the pace for the po...

Tajikistan needs to move to digitalization to accelerate economic growth - ADB

Economic growth in Tajikistan will slow in 2023 as geopolitical uncertainty remains high, the ADB released its forecast, Avesta reports. The country's gross domestic product (GDP) will slow to 5.5% in 2023 from 8% growth in 2022, according to forecasts from the Asian Development Outlook published by ADB. Growth is projected to recover to 6.5% in 2024, depending on growth in mining and other industries, as well as tax relief. Asia Development Review is ADB's leading economics publication. “Grow...

New electric buses for Bishkek to be purchased with ADB funds

The Asian Development Bank will allocate $50 million to Bishkek for the purchase of 120 electric buses, Kanokpan Lao-Araya, director of the ADB office in Kyrgyzstan, said at the presentation of forecasts for Central Asia, Economist.kg reports. Bishkek is one of the most polluted cities in the world. Smog suffocates the population, causes various respiratory diseases. Much of this smog comes from emissions from unsustainable cars, the report said. ADB has developed a public transport electrific...

Clean energy for Uzbekistan on a $150 mln loan from World Bank

The World Bank will take part in the implementation of the Clean Energy for Buildings in Uzbekistan project, Nova24.uz reports with reference to the Norma portal. The Board of Directors of the World Bank approved the allocation of funds to Uzbekistan in the amount of $143 million for a period of 30 years, including a five-year grace period. The project provides for the modernization of over 800 institutions in the areas of preschool, school education and healthcare, the report said. The alloca...

Retail prices for gasoline and diesel fuel to rise in Kazakhstan

The Ministry of Energy of Kazakhstan plans to raise the marginal retail prices for gasoline AI-92, AI-93 and diesel fuel, Kazakhstan Today reports with reference to Minister Bolat Akchulakov. “In order to stabilize the domestic fuel and lubricants market, it is necessary to reduce the price difference between Kazakhstan and neighboring countries. Therefore, we must take a difficult, but at the same time necessary step - to raise marginal retail prices," the head of the Kazakh Ministry of Energy...

Dozens of foreign companies pay “Google tax” in Kyrgyzstan

Dozens of foreign companies that sell services electronically in Kyrgyzstan are registered as a value added tax payer and have become payers of the “Google tax”. This was reported by "Akchabar" with reference to the State Tax Service of Kyrgyzstan. During the year, 39 foreign companies passed tax registration. Among them are brands such as Google, Amazon, Netflix, Yandex Go, Adobe, Xsolla, Spotify, Audible, etc. “Including 6 companies registered in the USA, 4 each in Dubai, Ireland, the Nether...

Kazakhstan to cut oil production together with OPEC+ countries

Kazakhstan will voluntarily reduce oil production by 78 thousand barrels per day, together with other OPEC+ member countries, starting from May 2023, Kazpravda.kz reports citing the Kazakh Ministry of Energy. Production cuts are planned until the end of 2023. "This reduction is a precautionary measure in addition to the production cut adopted at the 33rd OPEC+ Ministerial Meeting on October 5, 2022," the Kazakh Energy Ministry added. CentralasianLIGHT.org April 3, 2023