The EIB will allocate almost €1.5 billion for the development of transport in Central Asia
The European Investment Bank will allocate €1.5 billion to co-finance transport projects in Uzbekistan, Kazakhstan and Kyrgyzstan. This was reported by gazeta.uz with reference to the press service of the Delegation of the European Union to Uzbekistan.
The European Bank has already signed memoranda of understanding on co-financing transport projects of the mentioned countries, as well as the Development Bank of Kazakhstan for a total amount of 1.47 billion euros during the Global Gateway Investor Forum in Brussels.
“Transport is the backbone of modern economies, facilitating the mobility of people and enabling the exchange of goods, capital and services between countries in the region,” EIB Vice-President Teresa Czerwinska said.
The EIB's co-financing comes as part of a general commitment by European and international financial institutions to spend €10 billion on developing links between the regions of Europe and Central Asia, in particular transport projects such as the Trans-Caspian Transport Corridor.
Let us remind you that over the past decade the bank has already financed transport projects worth 136.5 billion euros around the world.
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