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European development bank makes record annual investment in central Asia

Xinhua, January 14, 2016 Adjust font size:

The European Bank for Reconstruction and Development (EBRD) announced Wednesday that its investment into central Asia reached a record level in 2015.

Investment in 2015 by the London-based development bank rose 75 percent to 1.4 billion euros (about 1.5 billion U.S. dollars) from 803 million euros, in 82 different transactions, up from 71 projects in 2014.

This brings the bank's total financing in Central Asia to just over 10 billion euros.

Within the region, the largest EBRD investment total was made in Kazakhstan with 708.6 million euros, up from 567.5 million euros in 2014.

Tajikistan and Mongolia tripled and quadrupled investment compared with the previous year.

EBRD managing director for Turkey and central Asia, Natalia Khanjenkova, said in a written statement, "The EBRD is ever more dedicated to the market transition of the economies of central Asia, and last year's record investment is only one of the areas where the Bank has boosted activity."

"We are also actively engaged in supporting policy reform on green energy, diversification, the investment climate and the role of the private sector," said Khanjenkova. (1 euro = 1.09 U.S. dollars) Endit