Olzhas Bektenov chairs a meeting of the Eurasian Development Bank’s Council
Astana, 28 June 2025. Olzhas Bektenov chaired a meeting of the Eurasian Development Bank’s (EDB) Council to review the Bank’s performance in 2024 and discuss current activities.
Nikolai Podguzov, Chairman of the EDB Management Board, reported progress towards the key targets set out in the Bank’s 2022–2026 Strategy. In 2024, the EBD’s cumulative investment portfolio reached US $16.5 billion, with investments increasing by approximately US $700 million year-on-year to US $2.4 billion. The share of projects contributing to the Sustainable Development Goals exceeded 30%, double the target. The Bank also significantly expanded its technical assistance project portfolio, which grew by 76% in 2024 to reach an all-time high.
According to the Management Board’s report, the Bank’s investment portfolio in Kazakhstan totalled US $7.2bn and included 116 projects, of which 43 active projects were worth US $2.9 billion. Investments also increased in Armenia, the Kyrgyz Republic and Tajikistan. By 2025, the EDB’s cumulative portfolio comprised 305 projects.
By the end of the first half of 2025, the Bank had fulfilled its investment plan with new signings amounting to approximately US $2.1 billion. The potential value of projects nearing signing exceeds US $4 billion.
The Republic of Uzbekistan officially joined the Agreement Establishing the EDB. During the meeting, Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, expressed the country’s commitment to active cooperation with the Bank.
“The EDB continues to strengthen its position as a key development institution in Eurasia,” said Nikolai Podguzov. “The Bank is now preparing to open an office in Tashkent, expanding our capacity to implement major integration projects.”
The meeting concluded with several decisions, including organisational and financial matters. As proposed by Council members, Olzhas Bektenov, Prime Minister of Kazakhstan, was elected Chairman of the EDB Council. Madi Takiyev, Kazakhstan’s Minister of Finance, was appointed Vice Chairman.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 19 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. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6148 and 3730
Photograph by the Press Service of the Government of the Republic of Kazakhstan