Reports and Working Papers – Eurasian Development Bank

For many years, countries in the Eurasian region have based their economies on exporting raw materials. While oil, gas, metals and minerals have provided foreign currency earnings, they have also made the economy vulnerable. New research shows that transitioning to high-value manufacturing can be a powerful driver of sustainable and rapid economic growth. This is the most effective way to reduce poverty, improve educational standards, and establish a broad middle class. The study identifies priority industries and niche markets for each country in the region. It provides detailed assessments of export potential (for 709 product categories) and import substitution potential (for 686 product categories) for specific products. 07 October 2025

Carbon pricing is one of the most effective and widespread climate incentives, with 75 carbon pricing instruments (CPIs) in operation worldwide. The countries of Central Asia and Azerbaijan have different approaches to CPI implementation, ranging from having an ETS in place to carrying out initial discussions. Joint report by the Eurasian Development Bank (EDB) and the CAREC Institute (CI) provides a comprehensive analysis of the current status, prerequisites and prospects of carbon pricing instruments in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The report also presents a Readiness Assessment Tool to facilitate the decision-making in this field, and makes recommendations to policymakers to help design an appropriate climate policy mix. 30 September 2025

The study examines how different definitions of the 'middle-income trap' affect assessments of economic development. These differences make it difficult to judge clearly whether a particular economy has fallen into the trap. Nevertheless, the absence of a universal definition does not preclude the analysis of factors contributing to the transition to a higher income level. These include stable macroeconomics, innovation, robust institutions and favourable demographics. 23 September 2025

The report analyzes 10 fundamental trends in non-sovereign financing by international financial institutions (IFIs) in the Eurasian region and formulates a number of proposals for more active and diversified IFI investments in development projects. 18 September 2025