US $2 Billion in Green Projects: the EDB's Investment in the Energy Sector of Central Asia
Astana, April 22, 2026
The Eurasian Development Bank (EDB) has formed a regional investment portfolio in the field of climate and ecology in Central Asia and intends to expand it, said Evgeny Vinokurov, Deputy Chairman of the Bank's Management Board, at the Regional Ecological Summit 2026.
For 20 years, the Eurasian Development Bank has been supporting sustainable development in the region. Over the past seven years, the Bank's "green" portfolio has tripled and reached US $2 billion, with about half of the funds allocated to renewable energy projects. Since 2015, the EDB has invested more than US $1 billion in the creation of about 1.2 GW of RES capacity.
Evgeny Vinokurov noted that the demand for electricity in the region is expected to grow by 40% by 2030, while a significant part of the infrastructure is already resource-exhausted. In these circumstances, the Bank offers a "middle course" for the energy transition, which will combine RES development, modernization of thermal generation, use of gas as a balancing source, recognition of the nuclear energy role, network infrastructure development, and fair transition for various industries.
The Water and Energy Complex of Central Asia initiative remains the key area of activity, with investments already exceeding US $750 million.
The EDB is also already implementing a US $5.3 million grant project jointly with Kazakhstan's Water Ministry and the UN Development Programme; the project is aimed at creating an ecosystem for sustainable irrigation and building a regional cluster for the production of irrigation equipment.
"The implementation of large-scale green projects requires coordination of effort by governments, international financial institutions and climate funds. Capital–intensive projects in clean energy and sustainable water resources management are among the key areas of focus. Joint preparation of projects makes it possible to ensure the right scope and upscale it at the regional level," said Evgeny Vinokurov.
An additional tool for upscaling successful practices has become the educational platform of the EDB Academy, which brings together governments and businesses to develop competencies in the field of green finance, energy and water resources.
Analytics - reports:
Power Sector of Central Asia: Modernization and Energy Transition - Eurasian Development Bank
The Irtysh River Basin: Transboundary Challenges and Practical Solutions - Eurasian Development Bank
Drinking Water Supply and Sanitation in Central Asia - Eurasian Development Bank
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 326 projects with a total investment of US $19.6 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 Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
As part of its 2022–2026 Strategy, the EDB is implementing 3 mega-projects: The Water and Energy Complex of Central Asia, The Eurasian Transport Network, and The Eurasian Commodity Distribution Network.
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