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.''