EU-Central Asia Summit: EIB Global expands strategic investments in sustainable projects

• At the EU-Central Asia Summit, EIB Global signed four memorandums of understanding with partners in Kyrgyzstan, Tajikistan and Uzbekistan to support EU Global Gateway priorities.
• With these agreements, the EIB will provide €365 million for sustainable transport, water management, and climate resilience projects.
• The EIB has signed a Host Country Agreement with Uzbekistan, making it possible to take the first step to increase the EIB’s presence in the region by setting up an EIB Regional Representation.
• The EIB has opened up negotiations with Turkmenistan for a Framework Agreement, the successful conclusion of which will constitute the legal basis to start operations in the country.

At the inaugural EU-Central Asia Summit in Samarkand, Uzbekistan, European Investment Bank (EIB) Vice-President Kyriacos Kakouris signed four memorandums of understanding with key partners in Kyrgyzstan, Tajikistan and Uzbekistan. With these agreements, the EIB will provide €365 million, unlocking up to €1 billion of investment in sustainable transport, water management, and climate resilience projects.

These agreements are in line with the European Union’s Global Gateway strategy, which aims to enhance private sector development, sustainable transport and logistics infrastructure, water management and environmental sustainability in Central Asia. These agreements will establish a framework for cooperation in order to identify concrete projects to be supported by the EIB.

Each memorandum of understanding reinforces the European Union’s commitment to economic growth, environmental sustainability and regional cooperation in Central Asia. It establishes a framework for collaboration in critical sectors, for instance:

• Kyrgyzstan State Development Bank – €50 million to strengthen key infrastructure investments through the National Promotional Bank.
• The government of Tajikistan – €100 million to support sustainable transport infrastructure on the Trans-Caspian Transport Corridor.
• Uzbekistan Water Implementation Centre – €175 million for water management and environmental sustainability, particularly as part of the Aral Sea Project, in collaboration with the French Development Agency (AFD).
• JSCB Microcreditbank, Uzbekistan – €40 million to support private sector development and to enable a local financial institution to finance projects contributing to sustainable transport and logistics connectivity.

Also at the EU-Central Asia Summit, EIB Vice-President Kyriacos Kakouris signed a Host Country Agreement with Uzbekistan, represented by Minister of Investment, Industry and Trade Laziz Kudratov. This will make it possible to take the first step to increase the EIB’s presence in the region by setting up an EIB Regional Representation.

Additionally, the EIB announced the opening of negotiations for a framework agreement with Turkmenistan. The successful conclusion of the agreement will constitute the legal basis to start operations in the country.

EIB Vice-President Kyriacos Kakouris, who oversees the Bank's operations in Central Asia, emphasised the strategic importance of these agreements: “This summit underscores the European Union and Central Asia’s shared commitment to deepening our mutually beneficial cooperation. As the Bank of the European Union, the EIB will continue to play a pivotal role in strengthening economic ties, promoting sustainability and private sector development, and enhancing infrastructure across Central Asia. These memorandums of understanding will pave the way for future financing in the transport, and water sectors, benefiting both the European Union and Central Asia. Moreover, the signing of a Host Country Agreement with Uzbekistan and the opening of negotiations for a Framework Agreement with Turkmenistan are significant milestones for the European Union's enhanced presence in the region.”

Background information

About EIB Global

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. 

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here. 

High-quality, up-to-date photos of our headquarters for media use are available here.