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Central Asian countries need $94 billion for energy

Staff Writer |
Central Asian countries have identified power investment needs of about $94 billion to 2023, according to an Asian Development Bank (ADB) commissioned study presented at an energy forum in Islamabad.

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Further, the financing gap that the private sector has to fill in the same period amounts to about $38 billion.

The findings were presented at the 1st Energy Investment Forum (EIF) of the Central Asia Regional Economic Cooperation (CAREC). In preparation for the EIF, ADB commissioned a study to identify specific opportunities for private investment in Central Asian countries.

The EIF was held to highlight investment opportunities in the CAREC region by bringing together key government officials, project developers/sponsors, project financiers, equipment manufacturers, and engineering, procurement, and construction contractors.

More than 150 high-level government officials and business leaders from 10 countries attended.

The main topics discussed included how to introduce policies and incentives in CAREC member countries that support investments in the energy sector.

Participants shared experiences on successful investments in the CAREC countries, with selected case studies in CAREC member countries, including Pakistan.

They also discussed how development funding can be used to systematically address investment risks and encourage private sector participation in energy projects.

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