Experts Gather to Explore Financing Central Asia’s Clean Energy Transition

On 28 April 2025, the webinar titled “Policies and Innovative Financing Mechanisms for Enabling Central Asia’s Clean Energy Transition” was hosted by Greenovation Hub and the CAREC Institute, in collaboration with the Green Investment Principles (GIP) for the Belt and Road and the World Resources Institute. The event brought over experts from multilateral development banks, research institutions, and civil society to exchange insights and discuss strategies for accelerating clean energy adoption across the region.

Mr. Charymuhammet Shallyyev, Director of the CAREC Institute, opened the webinar by highlighting the Institute’s commitment to fostering regional knowledge sharing and supporting sustainable development in Central Asia.

In the session “Breaking Barriers: Policy Innovations and Regional Collaboration,” Dr. Hans Holzhacker, former Chief Economist and consultant at the CAREC Institute, delivered a keynote speech on “China-CAREC Clean Energy Cooperation – Needs and Opportunities, with a Focus on Electric Vehicles (EVs).” He emphasized the urgent need for clean technologies in both the energy and transport sectors and the critical role of combining public and private funding. Dr. Holzhacker identified EVs as a key component of the region’s clean transport future. He also outlined priority areas for collaboration between China and CAREC countries, including technology transfer, scaling up green finance, enhancing cross-border electricity trade, and upgrading the region’s aging vehicle fleets through electrification and digitalization.

Mr. Timur Shalabayev, Executive Director of the Qazaq Green RES Association, provided an overview of the current renewable energy landscape in Kazakhstan. He joined other experts to discuss practical pathways for unlocking Central Asia’s renewable energy potential. Mr. Shalabayev emphasized the need for stronger regulatory frameworks and deeper regional cooperation to attract clean energy investments.

The second session, titled “Mobilizing Green Finance: Innovative Financing Mechanisms for Central Asia’s Clean Energy Transition,” focused on financial tools to attract investment into the region’s clean energy sector. Experts from the OECD, the Asian Development Bank, the Green Investment Principles (GIP) for the Belt and Road, and Perspectives Climate Research shared strategies for mobilizing private capital and reducing investment barriers. The discussion highlighted the use of green bonds, blended finance, and risk mitigation instruments as effective mechanisms to enable sustainable energy financing in Central Asia.

The event concluded with expert recommendations aimed at scaling up clean energy deployment, strengthening policy coordination, and unlocking sustainable finance across Central Asia.