EDB increases green energy investments in region

Tashkent, Uzbekistan (UzDaily.com) — The Eurasian Development Bank (EDB) has formed a growing investment portfolio in climate and environmental initiatives across Central Asia and plans to further expand its activities, according to Deputy Chairman of the Board Evgeny Vinokurov.

Speaking at the 2026 Regional Environmental Summit, he noted that the bank has been supporting sustainable development in the region for two decades. Over the past seven years, the volume of green investments has tripled, reaching 2 billion US dollars, with around half directed toward renewable energy projects. Since 2015, the EDB has invested more than 1 billion US dollars in creating approximately 1.2 gigawatts of renewable energy capacity.

Vinokurov stated that electricity demand in Central Asia may increase by 40 percent by 2030, while a significant share of existing energy infrastructure has already reached the end of its service life.

Against this background, the bank promotes a balanced energy transition strategy combining the expansion of renewable energy sources, modernization of thermal power generation, use of gas as a balancing resource, recognition of nuclear energy’s role, and development of transmission infrastructure.

A key priority remains the “Central Asia Water-Energy Complex” initiative, under which investments have already exceeded 750 million US dollars.

In parallel, a 5.3 million US dollar grant project is being implemented jointly with the Ministry of Water Resources of Kazakhstan and the United Nations Development Programme, aimed at developing sustainable irrigation systems and establishing a regional cluster for equipment production.

The EDB representative emphasized that large-scale environmental projects require coordinated efforts between governments, international financial institutions, and climate funds.

Priority areas include capital-intensive clean energy projects and efficient water resource management.

He added that joint project preparation helps ensure the necessary scale and enhances the potential for replication across the region.

An additional platform supporting knowledge exchange is the EDB Academy, which brings together governments and businesses to develop competencies in green finance, energy, and water resources.