EBRD Supports Economic Growth in Central Asia

EBRD Supports Economic Growth in Central Asia

The European Bank for Reconstruction and Development supports economic growth and integrational processes in Central Asia. According to the EBRD’s Managing Director for Central Asia Bruno Balvanera, the financial institution prioritizes projects aimed to diversify the regional economies, improve infrastructure and boost transit potential of the Central Asian countries. Bruno Balvanera believes that cooperation is especially important during the implementation of the Belt and Road Initiative, which will connect China and Europe through Central Asia.

“We are very optimistic. We still see Central Asia as one of the areas of growth. Economic growth of Central Asia is higher than the economic growth of any other region where EBRD operates. In average, we see 3 to 4 percent compared to 2 to 3 percent. So, this is a significant difference. On that assumption, we estimate that in the whole of Central Asia last year we invested about 1 billion euros. This year is going to be probably 20 to 30 percent more,” Balvanera told Kazakh TV.