EDB and IRENA join efforts to develop renewable energy in Central Asia
Abu Dhabi, March 11, 2025. A delegation of the Eurasian Development Bank (EDB) met with representatives of the International Renewable Energy Agency (IRENA) at the IRENA headquarters in Abu Dhabi. During the meeting, the organizations discussed cooperation in the development of renewable energy in Central Asia within the framework of two platforms – IRENAClimate Investment Platform (CIP) and IRENA Energy Transition Accelerator Financing Platform (ETAF).
The CIP and ETAF platforms were launched by IRENA and its partners to mobilize investments in promising renewable energy projects. With the help of these platforms, accredited organizations can both find and select new projects and attract potential partners for co-investment in theircurrent pipelines of renewable energy projects.
The EDB became a partner of the CIP platform in January this year and hopes that cooperation with IRENA will contribute to achieving the Bank's goals to expand the portfolio of renewable energy projects and develop renewable energy in Central Asia.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By 2025, the EDB’s cumulative portfolio comprised 305 projects with a total investment of US $16.5 billion. The Bank’s portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The EDB adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international co-operation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.
The Climate Investment Platform is a joint initiative of the International Renewable Energy Agency (IRENA), United Nations Development Programme (UNDP), and the Sustainable Energy for All (SEforALL), in collaboration with the Green Climate Fund (GCF). CIP’s mandate is to increase capital mobilisation and RE impact investing in developing countries.
The Energy Transition Accelerator Financing (ETAF) Platform is an inclusive, multi-stakeholder climate finance platform managed by IRENA to advance the global energy transition in developing economies. ETAF facilitates capital deployment to finance medium-to-large-scale-feasible renewable energy projects to achieve an adaptable and resilient energy transition and to bolster economic and social impact in developing countries.
