EIB Executive Highlights Successful Partnership Between Kazakhstan and EU
The European Investment Bank’s global arm, EIB Global, recently signed a 200 million euro loan agreement with the Development Bank of Kazakhstan, highlighting the deepening engagement between Brussels and Central Asia. In an interview with The Astana Times, EIB Global Director General Andrew McDowell discussed the significance of this partnership and the growing importance of Kazakhstan and Central Asia for both the bank and the EU.
The loan agreement aims to support KazAvtoZhol, Kazakhstan’s national road operator, in its nationwide road rehabilitation program, enhancing connectivity and infrastructure quality. This funding will also facilitate investments in sustainable transport infrastructure, including the Trans-Caspian International Transport Route (TITR), which connects China to European markets via Central Asia, the Caucasus, and the Caspian Sea.
Furthermore, the agreement marks the first tangible outcome of the four memorandums of understanding signed by EIB Global with the DBK and Central Asian countries at the EU-Central Asia Investors Forum in January 2024. McDowell also emphasized the potential for further collaboration in areas such as renewable energy, digital connectivity, and critical raw materials.
With the upcoming EU-Central Asia Summit in Samarkand, both sides are looking to deepen economic ties and expand cooperation across key sectors. McDowell expressed the EIB’s commitment to expanding its presence and financing in Central Asia, in line with the increased prioritization of the region under the Global Gateway initiative.
Overall, the partnership between the EIB and the Development Bank of Kazakhstan reflects a mutual interest in strengthening relationships and fostering win-win partnerships that benefit both Europe and Central Asia. Expectations are high for the upcoming summit, where increased engagement and cooperation between the two regions are anticipated to be celebrated and further solidified.
