Investments in Central Asia could reach US $260 billion by 2030: Participants of the EDB's Business Forum discussed new ways to attract investment
Almaty, 26 May 2026.
The "Investing in Central Asia: Opportunities and Partnerships" session dedicated to attracting capital from the Gulf countries and China was held on the second day of the EDB's Annual Meeting and Business Forum. The session was moderated by Paula Naofal, Senior Presenter at CNN Business Arabic, and the speakers included heads of leading international Islamic finance organizations and financial institutions.
Ruslan Dalenov, Deputy Chairman of the EDB Management Board, noted that the Bank envisages five new trends in attracting investment to the region: investors are seeking capital to launch projects in new sectors, whereas previously they attracted financing for the expansion of existing production; interest in energy is growing beyond renewable energy projects; transport projects are becoming larger and more complex, while interest in port infrastructure is on the increase; instruments for raising capital in yuan and dirhams are emerging, and demand for Islamic finance is increasing; demand for syndicated financing that supports large projects in the region, is growing.
Capital needs are also high: according to Bank's analysts, investments in energy could reach US $150-180 bln by 2030; US $50-60 bln could be invested in transport projects, US $12-14 bln - in water resources, and US $7 bln – in logistics.
Islamic finance could become a new source of funding. According to the EDB's estimates for the region, total banking assets in this sphere will grow to US $6.3 bln by 2033, while the sukuk market (the Islamic equivalent of bonds, where investors receive a share of profits rather than interest) will reach US $5.6 bln by 2033.
Raising funds through partner financing will require the creation of a new ecosystem. Development banks also need to develop partnerships with other countries and accelerate the process of providing financing, urged Sami Al-Suwailem, Director General of the Islamic Development Bank Institute.
Shaikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of the Board of Trustees at the Accounting and Auditing Organization for Islamic Financial Institutions, proposed linking investment growth to increased productivity in order to avoid falling into the middle-income trap: since 1990, only 34 countries out of 180 have achieved the status of high-income countries. He believes capital-based financing to be a priority.
The distribution of Islamic finance in the region remains uneven and is primarily represented by asset-backed contracts, said Abdullah bin Haron, Deputy Secretary-General of the Islamic Financial Services Board, calling for a combination of conventional and Islamic finance. Regulatory changes are necessary to develop new instruments – Kazakhstan has already adapted its legislation, while Uzbekistan, Kyrgyzstan, and Tajikistan are in the process, noted Ammar Ahmed, CEO of Dar Al Sharia.
Green finance is another sphere for attracting investment. Angelina Cheng, Chief Macro Strategist at China Galaxy International Securities (CGIS), noted that the region has both fossil fuel and renewable energy sources. Investment in renewable energy is growing, but investors are also seeking to ensure the security of energy supplies. The economist sees additional opportunities for raising funds in listing on the Hong Kong Stock Exchange that provides access to the global market.
When issuing "green" instruments, it is important to increase transparency and implement ESG reporting, added Teze Wang, Managing Director of CCX Green Finance International. In China, the volume of "green" bond issuance exceeds 3 trillion yuan (about US $40 billion); these funds are used to finance the production of electric vehicles and renewable energy sources. The requirement to disclose non-financial data applies, in particular, to companies that are listed on the stock exchange.
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.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 4774 and 2160