Energy and Economy 

 

Armenia to Receive Investments from Europe

A $117 million loan agreement has been signed between the European Investment Bank (EIB Global), the bank of the European Union, and Ardshinbank OJSC. This loan agreement will expand access to financing micro, small and medium-sized enterprises, as well as mid-cap companies throughout Armenia. Armenian companies that are hoping to modernize their operations or adapt new technologies will be eligible for the EIB Global-backed credit resources. The agreement is expected to benefit 300 businesses and sustain more than 10,000 jobs. 

Source: EU Neighbours East

Azerbaijan and Kyrgyzstan Launch Joint Business Council

Azerbaijan’s Export and Investment Promotion Agency (AZPROMO) and Kyrgyzstan’s Chamber of Commerce and Industry have signed a memorandum establishing the Kyrgyzstan-Azerbaijan Business Council. The goal for the business council will be “discussing current and prospective economic and trade relations, expanding export-import operations, attracting mutual investments, increasing bilateral trade turnover, and the importance of regular business missions.”

Source: Caspian Post

First Shipment of Kazakhstan Oil to Kyrgyzstan since 2017

For the first time since 2017, Kazakhstan will ship oil to Kyrgyzstan. Reinstated in November 2025, 30,000 tons of oil is expected to be supplied by the end of the year. Kazakhstan oil to Uzbekistan is also planned to resume in December 2025, reaching a total of about 35,000 tons. The oil will be transported via the main pipeline system to the Shagyr oil loading terminal and then continue on railway tank cars. 

Source: Caspian Post

Kazakhstan Plans to Divert Oil to China after Attack on CPC Terminal in Russia

Following the Ukrainian drone strike on the Caspian Pipeline Consortium (CPC) terminal to the Black Sea, Kazakhstan announced its intent to ship crude oil to China from its Kashagan fields. Kazakhstan will ship 17,400 barrels a day to China, while also increasing its volumes through the Baku-Tbilisi-Ceyhan (BTC) pipeline and the Atyrau-Samara pipeline to Russia. 

Source: Reuters

World Bank Finalizes $250 Million Loan to Uzbekistan for Student Financing 

The World Bank approved a $250 million loan to support Uzbekistan’s efforts to reform student financing through the Edulmkon Program, a three-year initiative aimed at expanding access to higher and vocational education. Most of the funding will be used to provide tuition loans to low-income students and to women, groups that have historically faced barriers to education. The program is designed to supplement Uzbekistan’s existing student loan system that relies on subsidized private-sector lending and does not prioritize high-demand fields of study.

Source: The Times of Central Asia

Uzbekistan to Consider Italian Company to Construct Its First Nuclear Power plant

Uzbekistan’s Agency on Atomic Energy (Uzatom) met with the representatives of Ansaldo Energia Holding of Italy to discuss expanding cooperation on the implementation of Uzbekistan's first nuclear power plant. The company could act as a technical consultant during the construction of the power plant. Further discussions also involved cooperation in nuclear waste and fuel management. Ansaldo Energia is one of Europe’s leading companies in the nuclear sector. However, Uzbekistan’s initial plan focused on Russian nuclear company, Rosatom, to build a plant with small modular reactors (SMR). The country also considered plans to purchase SMRs from American companies.

Source: Kun.uz

Politics and Security

 

Tokayev Meets with Iranian President in Astana

Kazakhstan President Kassym-Jomart Tokayev hosted Iranian President Masoud Pezeshkian at the Akorda Presidential Palace in Astana on December 11.  The two leaders discussed avenues for strengthening connectivity and trade. Tokayev proposed an increase of $2 billion in bilateral trade volume, noting that bilateral trade has increased by 40% this year compared to 2024. Both leaders emphasized that they should cooperate on Caspian Sea issues and develop the North-South Transport Corridor and the Kazakhstan-Turkmenistan-Iran railway route. 

Sources: Astana Times, Anadolu Ajansi

Turkmenistan Hosts Forum Celebrating its Permanent Neutrality

Turkmenistan President Serdar Berdimuhamedov welcomed international leaders to Ashghabat to recognize its “International Year of Peace and Neutrality,” marking 30 years since the United Nations General Assembly granted the country permanent neutrality. The forum, which took place on December 12, brought together heads of state from the greater Caspian region and broader Eurasia, such as Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, and Turkish President Recep Erdoğan. On the sidelines, Putin and Pezeshkian met to discuss the Russia-Iran strategic partnership and progress on connectivity projects, such as the Astara-Rasht railway. 

Sources: Times of Central Asia, kremlin.ru

Azerbaijan and Thailand Kickstart Bilateral Ties 

December 11 – 13, Azerbaijan’s Deputy Foreign Minister, Elnur Mammadov, made an official visit to the Southeast Asian nation of Thailand. This visit entailed not only the opening of Azerbaijan’s embassy in Bangkok but the first-ever bilateral talks between the Ministry of Foreign Affairs of the Republic of Azerbaijan and the Ministry of Foreign Affairs of the Kingdom of Thailand as well as consultations with high-ranking officials in Thailand’s parliament. The Thai and Azerbaijani delegations expressed their desire to amplify collaboration within multilateral forums and discussed how to bolster cooperation across  the spheres of tourism, culture, economy, and politics. A notable result of the official diplomatic visit was the signing of a memorandum of understanding between the two countries to confirm their broad-ranging intentions. 

Source: apa