EBRD Creates Private Investment Fund for Central Asia and Caucasus

The Eurasian Bank for Reconstruction and Development, together with international financial institutions, is preparing to launch a private equity fund for Central Asia and the Caucasus — the Central Asia and Caucasus Private Equity Fund (CACPEF).

Participants in the initiative include China Investment Corporation (CIC), the Oman Investment Fund (OIF), the Uzbekistan Fund for Reconstruction and Development (UFRD), Turkish fund OYAK, the EBRD itself, and Shenwan Hongyuan Securities Co., Ltd. Sovereign wealth funds of Central Asian countries, regional development banks, pension funds, and other financial institutions have also been invited to participate.

The fund aims to attract long-term capital to promising regional companies and support industrial development. According to the organizers' plan, participants will combine capital with sectoral expertise and business connections in China, the Middle East, and the region itself.

"Companies in Central Asia and the Caucasus need long-term capital to expand their businesses and enter new markets. Working with partners from China, Oman, Uzbekistan, and Turkey will allow us to combine international investment opportunities with our knowledge of the region. For the EBRD, participation in preparing the fund is one way to attract additional resources into the economies of member states and support the growth of regional companies," said EBRD Deputy Chairman of the Board Daniyar Imangaliyev.

The initiative aligns with the EBRD Strategy for 2027-2031, which provides for attracting international capital to the bank's member states through specialized investment funds. As of end of June 2026, the EBRD's combined investment portfolio comprised 348 projects with a total value of $22.1 billion US dollars.

The fund is being created amid expanding EBRD cooperation with partners in China and the Middle East. On October 6, 2026, the EBRD and Oman's Ministry of Finance signed an agreement on the conditions for the bank's presence in the Sultanate — a first step in Oman's accession process to the EBRD. The bank also maintains a representative office at Abu Dhabi Global Market (ADGM), an international financial center. In October 2026, the bank placed its debut dimsum bonds in Hong Kong.