Central Asia needs $94bn power investment by 2023

Central Asian countries have identified power investment needs of about $94 billion (£77.30bn) by 2023. The private sector will need to provide about $38 billion (£31.25bn) of this money, according to […]

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By Jonny Bairstow

Central Asian countries have identified power investment needs of about $94 billion (£77.30bn) by 2023.

The private sector will need to provide about $38 billion (£31.25bn) of this money, according to a new Asian Development Bank (ADB) study.

The findings were presented at the 1st Energy Investment Forum (EIF) of the Central Asia Regional Economic Cooperation (CAREC), an event held to bring together governments, developers and financiers to highlight regional investment opportunities.

CAREC helps Central Asian nations make the most of their potential by promoting co-operation in transport, trade facilitation, energy, and trade policy.

The countries involved are Afghanistan, Azerbaijan, the People’s Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.

The main discussion focused on how to support investments in these areas through the introduction of new policies and incentives.

ADB Vice-President Wencai Zhang said: “Energy is a key component for achieving broad-based and sustainable economic development for not only the CAREC countries but the entire Asia and Pacific region. In order to ensure a secure supply of energy, a substantial amount of investments will be needed over the next 20 to 30 years.”

Energy investment will be part of the discussions at the Energy Live 2016 conference in London on Thursday. Find out more here and join in the discussions using #EL2016.