ALMATY — Over the past four years, the Eurasian Development Bank (EDB) has solidified its position as the regional leader in non-sovereign financing, with $8.8 billion in investments, representing 41% of all non-sovereign development bank investments in the EDB region. Speaking at the bank’s year-end press conference on Dec. 19, Nikolai Podguzov, chairman of the Management Board, highlighted that one of the key measures of the bank’s scale is its five-year target investment volume.
Photo credit: The Astana Times
“In 2025, EDB signed over 20 new projects to support the economies of its member countries, with a total annual investment slightly exceeding $2.6 billion, surpassing the bank’s own capital,” he said.
During this period, the bank has focused on maximizing its development impact across its member states, prioritizing sectors such as infrastructure, green energy, industrial development, digitalization, economic diversification, and overall competitiveness. In Armenia, Kyrgyzstan, and Tajikistan, these priorities were reflected in a growing project portfolio, which expanded to $659 million, 1.5 times higher than the previous year.
Sustainable development remains central to EDB’s strategy. By 2026, at least 25% of projects are expected to contribute to the Sustainable Development Goals (SDGs), a target already achieved. By the end of 2025, SDG-focused projects accounted for $1.6 billion, demonstrating that the bank is fulfilling its mandate while maintaining financial stability and realizing its development potential.
Uzbekistan joins as the seventh member, EDB opens office in Abu Dhabi
A historic milestone for EDB came this April when Uzbekistan officially became the seventh EDB member. For Uzbekistan, membership provides fresh impetus to modernize transport, energy, and agriculture, while for all member states it creates new opportunities for cooperation, trade, and food security.
Nikolai Podguzov, chairman of the Management Board. Photo credit: EDB
The EDB also expanded its global footprint in 2025, opening a representative office in Abu Dhabi. According to Podguzov, the goal is to connect Gulf capital with investment opportunities in Central Asia, providing strategic access to capital markets in the Middle East, Asia, and Africa. The office was established in partnership with Abu Dhabi Global Markets (ADGM), one of the world’s leading financial centers. EDB received Exempt Person status, a designation held only by select international development banks, which provides corporate tax exemptions, streamlined registration, and minimal reporting requirements, enabling operational flexibility. Podguzov noted that the bank plans to develop Islamic finance products, expand expertise for partners, and raise the global profile of the EDB brand.
“In 2025, the bank also entered new capital markets, issuing its first bonds denominated in UAE dirhams on the Astana International Exchange and conducting a private placement in Abu Dhabi. These initiatives link the financial markets of Kazakhstan and the UAE, with proceeds directed to Central Asian development projects, reflecting the bank’s broader regional strategy,” he said.
Investments and megaprojects in Central Asia
Podguzov noted that in 2025, EDB continued to implement key investment megaprojects, adding nearly $750 million to its portfolio in priority sectors. In the energy sector, it financed projects worth $780 million. “Under the Eurasian Transport Corridor, it supported projects worth over $800 million, including the opening of the KVASA logistics hub at the Eurasian Logistics Park in Kazakhstan. The Eurasian Goods Network included three projects valued at over $200 million. Overall, the bank now manages 27 investment projects valued at more than $4 billion,” he said.
Podguzov emphasized that the EDB has become a significant player in these sectors, coordinating partners, experts, and governments to maximize economic impact. A strategic review of the Eurasian Goods Network through 2031 revealed a shortage of modern warehouse infrastructure.
“By 2040, demand for warehouses is expected to nearly double to over 120 million square meters, growing 4–5% annually, faster than overall economic growth. To address this, the bank will finance modern warehouses along key transport corridors, launch a digital platform for asset management, and attract capital through specialized investment funds, creating a connected logistics ecosystem to drive regional trade,” Podguzov said.
EDB has also strengthened the institutional environment through specialized funds and public-private partnership (PPP) initiatives. The Technical Assistance Fund (TAF) continues to serve as a strategic driver of integration and sustainable growth, aligning projects with member countries’ national priorities.
According to Podguzov, in 2025, the TAF implemented over 20 new projects worth $36.7 million, twice the amount from the previous year, with 60% directed to smaller member economies. The fund also worked closely with the bank’s PPP Unit to support educational programs and infrastructure development for PPP initiatives. Additionally, 12 digital initiative projects worth $7 million were approved, reflecting the bank’s focus on innovation and long-term growth.
