EU bank pledges $400M for Central Asia green projects

ISTANBUL

The European Investment Bank (EIB) on Friday signed four memorandums of understanding (MoUs) at the first EU-Central Asia Summit, pledging €365 million (approximately $400 million) to support sustainable transport, water management, and climate resilience in Kyrgyzstan, Tajikistan, and Uzbekistan.

The agreements signed in Samarkand, Uzbekistan, aim to mobilize up to €1 billion in total investment, aligned with the EU’s Global Gateway strategy.

The projects are expected to foster infrastructure growth, environmental protection, and private sector development across the region.

In detail, €50 million will go to Kyrgyzstan through the State Development Bank for infrastructure investment.

Tajikistan will receive €100 million for sustainable transport along the Trans-Caspian Corridor.

Uzbekistan will gain €175 million for water projects, including work on the Aral Sea, in partnership with the French Development Agency.

Another €40 million will support small-scale transport initiatives via Uzbekistan’s Microcreditbank.

Additionally, the EIB signed a Host Country Agreement to open a regional office in Uzbekistan and began talks with Turkmenistan on a framework deal to enable future operations there.

“This summit underscores the European Union and Central Asia’s shared commitment to deepening our mutually beneficial cooperation,” said EIB Vice-President Kyriacos Kakouris, who oversees the region.

"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," he added.

The deals reflect growing EU engagement in Central Asia through sustainable infrastructure and climate-focused development strategies.