The Eurasian Development Bank (EDB) intends to invest at least $400 million in the water and energy complex of Central Asia in the next three years, Nikolai Podguzov, Chairman of the Board of the EDB, said at the UN conference on water resources in New York on March 23, the press service reports . bank .
“According to our current medium-term strategy, we consider the water and energy complex of Central Asia to be one of the main priorities of the bank. According to EDB estimates, the successful solution of existing problems in this area can lead to an additional increase in regional GDP growth rates by 1.5% per year. The introduction of modern irrigation technologies and the modernization of irrigation systems will increase the efficiency of water use by 40%,” Podguzov said.
According to him, the problem of rational use and distribution of water and energy resources in Central Asia requires joint action.
“We must solve it in the context of the region as a whole. In our opinion, water and energy resources form the basis of regional cooperation. Regional water and energy organizations, as well as multilateral financial institutions, could act as a common link in this process,” the head of the EDB stressed.
He highlighted the role of multilateral development banks and other international financial organizations that should be involved in addressing issues of sufficiency and rational use of water and energy resources in Central Asia.
“There is a lot to be done here. We look forward to working with other multilateral banks and, of course, with member governments. I believe that our joint efforts will successfully solve long-term water problems in Central Asia,” concluded Nikolay Podguzov.
The UN Water Conference takes place at the UN Headquarters from 22 to 24 March. Based on its results, Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan intend to adopt a joint statement, which will enshrine the basic principles of cooperation in this area.
Currently, the Bank is implementing an investment megaproject “Water-Energy Complex of Central Asia”. It is based on analytical and expert assessment and forecasts of the most effective ways of integrated development of the WEC.
The Bank’s analysts have already conducted a number of studies, the results of which are reflected in the reports “Investments in the water and energy complex of Central Asia” and “Regulation of the water and energy complex of Central Asia”.