BAKU, Azerbaijan, August 12. The geopolitical landscape has significantly changed in recent years, altering global trade patterns and investment flows - but this shift offers new opportunities for countries like Kazakhstan and Uzbekistan, said Huseyin Ozhan, EBRD Managing Director for Central Asia and Mongolia, in an exclusive interview with Trend.
"In this respect, countries with a favorable business climate and pursuing so-called ‘multi-vector policies’ can remain partners for different economic blocs," he explained. "The EBRD is helping Kazakhstan and Uzbekistan to run Foreign Investors Councils, which help to improve their investment climate and serve as an important platform for dialogue between foreign investors and the authorities".
He noted that while raw materials have long fueled the region’s growth, the shift toward low-carbon economies and renewables will create new advantages. "We are helping Central Asia states to decarbonize their economies, deploy renewables, create sustainable infrastructure, and digitalize their economies," Ozhan said.
The bank's rep added that the bank continues to promote open, market economies and private entrepreneurial initiative. "Our focus on the private sector helps the countries where we work to build their resilience and enhance competitiveness amid global uncertainty," he noted. "Market economies based on democratic principles are better suited to withstand geopolitical adversities. This is what we promote as an institution. This is part of our fabric".
Ozhan emphasized the EBRD’s counter-cyclical strength: "Generally speaking, institutions like the EBRD work well in times of crisis. Where other investors are holding back in times of uncertainties, we step up to support economies".
He pointed out that the bank nearly doubled its annual investment in Central Asia last year compared to 2023. "Many of our projects help to facilitate green investment, employ climate adaptation technologies, promote innovation, trade, and support grassroots businesses," he said.
Looking ahead, Ozhan highlighted the EBRD’s longstanding partnership with Kazakhstan, which joined the Bank 33 years ago. "Over these years, we have enjoyed excellent cooperation with the authorities, both central and regional, and the business community, which allowed us to become the largest continuous banking operation of the EBRD in Central Asia," he said.
"For 27 years, we have been an active member of the FIC - a facilitator of a better investment climate in Kazakhstan," he added.
"This story is about partnership, which has a very different meaning in today’s world shaken by various geopolitical adversities," Ozhan concluded. "Today, more than ever, you need long-term reliable partners, which can support your most ambitious plans both financially and intellectually. I’d like to think that the EBRD is offering just that".