On November 2-3, 2026, Mr. Roman Serov, Vice-President and Chief Operating Officer of the New Development Bank, participated in the Second Tianshan Forum for Central Asia Economic Cooperation. The event was held in Almaty under the theme “Strengthening Resilient Connectivity and Promoting Quality Investment in Central Asia”.
In his remarks at the panel discussion on “Mobilising Diversified Investment and Financing for CAREC Connectivity”, Mr. Roman Serov highlighted that Central Asia is increasingly important to the New Development Bank, particularly following the recent accession of Uzbekistan. Looking ahead, NDB intends to continue expanding its membership, with Central Asia as a key region of interest.
Having extensive experience across emerging economies, NDB is perfectly positioned to help CAREC countries strengthen the bankability of regional connectivity projects, said VP Serov. Our project preparation fund is specifically designed to address project risks at the earliest stages. Beyond financing, NDB can bring significant added value through its knowledge-sharing instruments, such as thematic workshops, seminars, and the recently launched BRICS-NDB Knowledge Portal, he noted.
At NDB, we aim to become a provider of regional connectivity solutions by expanding our toolkit, including multilateral guarantees, unfunded risk participation and, in particular, trade finance instruments, such as the Commodity Trade Finance Fund and Trade Finance Programme, which are seen as key levers of cross-border connectivity, VP Serov said. He also noted that NDB is exploring blockchain as a promising technology for the monitoring of cross-border projects.
Mr. Roman Serov also stressed the role of local currency financing in reducing projects’ foreign-exchange risks, which currently accounts for 31% of NDB’s cumulative approved financing volume. NDB is strengthening its role as the largest Panda bond issuer among multilateral development banks.
VP Serov confirmed NDB’s continued commitment to expanding local-currency financing, targeting the level of 40-50% by 2031. He noted that NDB’s objective is not only to help clients mitigate foreign exchange risks, but also to support the development of domestic capital markets and deliver sustainable connectivity investments across the region. VP Serov also outlined NDB’s strategic commitment to develop innovative financial instruments for private capital mobilisation, such as loan securitisation and even tokenisation and leveraging project monitoring blockchain platforms.