Harnessing the Power of Integration: A Path to Prosperity in Central Asia

In the April Regional Economic Outlook, we projected a growth slowdown to 3.9 percent in 2024, but inflows of income, capital, and migrants from Russia, and rerouting of trade though the region have again boosted growth to impressive high single digits so far this year in oil importing CCA economies, including the Kyrgyz Republic. In Kazakhstan, on the other hand, growth is expected to slow to 3.1 percent in 2024 before picking up to 5.6 percent in 2025 as production increases from the Tengiz oil fields.

Inauguration of the Herzegovina Bridge, supported by EIB Global

The inauguration of the new Herzegovina Bridge which extends nearly 1km across the Neretva River, along with the Počitelj-Zvirovići subsection of the highway, represents a significant infrastructural achievement in Bosnia and Herzegovina. As a vital component of Corridor Vc, this major transportation route aims to increase connectivity while improving travel times, traffic safety and economic relations. In line with the European Union’s Global Gateway strategy, the project has been financed with a €5 million EU grant under the Western Balkans Investment Fund, as well as a €105 million loan from the European Investment Bank (EIB Global), allocated to the entire Počitelj-Bijača section.

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