Tashkent, Uzbekistan (UzDaily.uz) — Non-sovereign financing by international financial institutions (IFIs) in the Eurasian region reached US$6.8 billion in January–September 2026, up 50% compared with the same period last year.
Financing totalled US$1.1 billion in the third quarter, down 36% year on year, according to an analytical brief by the Eurasian Development Bank (EDB) covering the third quarter of 2026.
The EDB attributed the quarterly decline to a reduction in the number of large transactions. However, the negative trend in the third quarter did not change the overall increase in financing since the beginning of the year.
Kazakhstan has become one of the key locations for the expansion of new international financial institutions and partnership mechanisms.
The country's financing volume increased by more than US$200 million year on year in the third quarter. The OPEC Fund approved its first non-sovereign operation in Kazakhstan, while the Turkic Investment Fund began operations and started financing projects in the country.
The main sources of non-sovereign financing in the region include the EDB, the European Bank for Reconstruction and Development (EBRD) and the World Bank Group.
The EDB focused primarily on infrastructure projects, while EBRD financing was concentrated mainly in the financial sector. The World Bank actively used guarantee instruments through the Multilateral Investment Guarantee Agency (MIGA).
The role of guarantees in attracting capital increased significantly. In the first nine months of 2026, guarantees accounted for 22% of IFI non-sovereign financing in Eurasia, compared with 4% in the same period of 2025. The main institutions providing guarantees were MIGA, the EDB and the EBRD.
Another area of activity was financing modern warehouse and logistics facilities. In particular, the EDB provided loans for the construction of the Griffin Logopark Almaty logistics complex. The International Finance Corporation, a member of the World Bank Group, is also active in this segment.
International development banks are also expanding their involvement in investment platforms. In Mongolia, the GIRAF fund was launched to finance the agricultural sector and pool resources from international development banks, the state and commercial banks.
In Kazakhstan, the World Bank financed the ALEM programme, which includes a fund-of-funds venture capital mechanism to support technology startups.
The EDB is a multilateral development bank operating across the Eurasian region.
According to the bank, as of the end of June 2026, its cumulative investment portfolio comprised 348 projects with a total value of US$22.1 billion.
The bank's main areas of activity include transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering.
