Sunday, 26, May, 2024

The European Investment Bank (EIB) signed memorandums of understanding on co-financing transport projects with Uzbekistan, Kazakhstan and Kyrgyzstan, as well as the Development Bank of Kazakhstan worth total of 1.47 billion euros, the press service of the Delegation of the European Union to Uzbekistan said.

The signing took place at the Global Gateway Investor Forum on transport links between the European Union and Central Asia, which takes place on January 29-30 in Brussels.

The funding is expected to mobilize additional capital, resulting in total support for sustainable transport projects in Central Asia amounting to €3 billion. The EIB will also share its global long-term experience in the sector with its partners in Central Asia - over the past decade the bank has financed transport projects worth €136.5 billion worldwide.

“Transport is the backbone of modern economies, facilitating the mobility of people and allowing the exchange of goods, capital and services between countries in the region. In addition, investing in sustainable transport is key to addressing climate impacts and making transport networks more resilient,” said EIB Vice-President Teresa Czerwinska.

“This agreement marks a new era of progress for Uzbekistan and our neighbors. By signing the MoU, we are paving the way for transformative progress in the transport sector. This cooperation is our shared commitment to improve sustainable transport links between Europe and Central Asia. Thanks to this partnership, we are investing not only in our infrastructure, but also in the prosperity and well-being of our people,” said Deputy Prime Minister of Uzbekistan Jamshid Khojaev.

Latest in National