August 8, 2025 – Baku
As of July 1, 2025, Azerbaijan’s total investment in the development of the Eurasian Transport Framework (ETF) has reached $2.1 billion, according to the Transport Projects Observatory of the Eurasian Development Bank (EDB).
The ETF spans 13 countries—including Azerbaijan, Armenia, Afghanistan, Belarus, Georgia, Iran, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, and Uzbekistan—and currently includes 325 infrastructure projects, either underway or in the planning stage. The combined value of these projects exceeds $234 billion.
Roads Dominate Project Portfolio
According to the EDB, over 51% of all ETF projects are in the road sector, reflecting widespread demand for improved highway connectivity. More than 60% of the total investment is currently being implemented, while 13% is in the design and documentation phase and 27% remains in planning and discussion.
Central Asian nations are a major hub for ETF activity, accumulating more than 22% of the total investment, with 90 projects valued at roughly $53 billion. Kazakhstan alone accounts for 44% of the regional share. Nearly two-thirds of these funds are allocated to highway construction and modernization—critical to boosting trade and cross-border freight transport.
Russia and Kazakhstan Lead in Investment Volume
The distribution of investments by country is as follows:
Russia – $137.1 billion
Kazakhstan – $23.3 billion
Iran – $13.6 billion
Afghanistan – $12.5 billion
Kyrgyzstan – $12 billion
Mongolia – $8.5 billion
Uzbekistan – $7.2 billion
Turkmenistan – $5.3 billion
Tajikistan – $5 billion
Armenia – $4.7 billion
Georgia – $2.6 billion
Belarus – $0.2 billion
Seven of the ten largest ETF projects are located in Russia, making the Northern Eurasian Transport Corridor the most capital-intensive route, requiring approximately $78 billion, or one-third of total ETF investments.
Central Asia’s Mega-Projects
The top 10 projects in Central Asia represent 58% of the region’s ETF investment, including:
China–Kyrgyzstan–Uzbekistan railway ($4.7 billion)
Tashkent–Andijan expressway ($4.3 billion)
Balykchy–Kochkor–Kara-Keche–Makmal–Jalal-Abad railway ($4.1 billion)
North–South railway in Tajikistan ($3.9 billion)
Private Sector and PPPs
Out of the 325 ETF projects, 113 involve private sector participation, nearly half of which are in logistics and warehouse infrastructure. The EDB also highlights 17 projects under or eligible for public-private partnerships (PPP), including two cross-border railway corridors: China–Kyrgyzstan–Uzbekistan and the Trans-Afghan Railway Corridor.
The bank stresses the importance of project prioritization, particularly in countries with lower GDP such as Afghanistan, Tajikistan, Kyrgyzstan, Mongolia, and Armenia, where infrastructure spending accounts for a significant portion of national economic resources.
