BAKU, Azerbaijan, April 22. The Eurasian Development Bank (EDB) has invested $2 billion in green projects in Central Asia and formed a regional climate and environmental investment portfolio that it plans to further expand, said Deputy Chairman of the EDB Board Yevgeny Vinokurov at the Regional Ecological Summit 2026, Trend reports.
According to him, the bank’s green portfolio has tripled over the past seven years, reaching $2 billion, with about half of the investments directed to renewable energy projects. Since 2015, the EDB has invested more than $1 billion in the development of around 1.2 GW of renewable energy capacity in the region.
Vinokurov noted that electricity demand in Central Asia is expected to grow by 40% by 2030, while a significant part of the existing infrastructure requires modernization. Against this backdrop, the bank is promoting a “middle path” for energy transition, combining the expansion of renewables, modernization of thermal power generation, the use of gas as a balancing source, recognition of nuclear energy, as well as the development of grid infrastructure and mechanisms for a just transition.
A key priority remains the “Central Asia Water-Energy Complex” initiative, where investments have already exceeded $750 million.
In addition, the EDB is implementing a $5.3 million grant project jointly with Kazakhstan’s Ministry of Water Resources and the UN Development Programme, aimed at developing a sustainable irrigation ecosystem and creating a regional cluster for irrigation equipment production.
“Large-scale green projects require coordination between governments, international financial institutions, and climate funds. The key areas include capital-intensive clean energy projects and sustainable water resource management,” Vinokurov said.
He stressed that joint project preparation helps ensure the necessary scale and regional feasibility of initiatives.
''As an additional tool to scale up green practices, the EDB is developing the EDB Academy platform, which brings together governments and businesses to build expertise in green finance, energy, and water resources.''