At the first EU-Central Asia Summit, held in Samarkand, Uzbekistan, on April 4, European Investment Bank (EIB) Vice-President Kyriacos Kakouris signed four memorandums of understanding with partners in Kyrgyzstan, Tajikistan, and Uzbekistan. The agreements will direct €365 million in funding and are expected to unlock up to €1 billion in investment for sustainable transport, water management, and climate resilience initiatives across the region.
The EIB is the long-term lending institution of the European Union.
These agreements support the EU’s Global Gateway strategy, which aims to boost private sector development, improve transport and logistics infrastructure, and strengthen water management and environmental sustainability throughout Central Asia.
In Kyrgyzstan, the EIB will provide €50 million through the Kyrgyzstan State Development Bank to support infrastructure investments via the National Promotional Bank.
Tajikistan will receive €100 million to develop sustainable transport infrastructure along the Trans-Caspian Transport Corridor.
In Uzbekistan, €175 million will be allocated to the Uzbekistan Water Implementation Center for water management and environmental sustainability projects, particularly under the Aral Sea Project, in collaboration with the French Development Agency (AFD).
Additionally, Uzbekistan’s JSCB Microcredit bank will receive €40 million to bolster private sector development and to enable local financing for projects that contribute to sustainable transport and logistics connectivity.
During the summit, Kakouris also signed a Host Country Agreement with Uzbekistan, establishing an EIB Regional Representation in the country to enhance the Bank’s presence in Central Asia.
The EIB further announced the launch of negotiations for a framework agreement with Turkmenistan, signaling plans to begin operations there.
“These agreements underscore the European Union and Central Asia’s shared commitment to deepening mutually beneficial cooperation,” said Kakouris. “As the EU’s bank, the EIB will continue playing a pivotal role in strengthening economic ties, promoting sustainability and private sector development, and enhancing infrastructure across the region. The memorandums of understanding pave the way for future financing in the transport and water sectors. Moreover, the Host Country Agreement with Uzbekistan and the launch of negotiations with Turkmenistan mark important milestones for the EU’s growing engagement in Central Asia.”
