The Global Gateway Investors Forum for EU-Central Asia Transport Connectivity opened on January 29 in Brussels, bringing together high-level representatives from the European Commission, EU Member States, Central Asia and Caucasus countries, and Türkiye. At the forum, European Commission Executive Vice President Valdis Dombrovskis announced that European and international financial institutions will commit €10 billion in support and investments towards sustainable transport connectivity in Central Asia.
The two-day forum’s agenda includes discussions of the required investments to transform the Trans-Caspian Transport Corridor into a cutting-edge, multimodal, and efficient route, connecting Europe and Central Asia within 15 days.
The European Commission said that Russia’s invasion of Ukraine has underlined the urgency to find alternative reliable efficient trade routes between Europe and Asia that do not transit Russia. The development of transport connectivity is also a means to strengthen the regional integration and economic development of Central Asia.
The €10 billion commitment is a mixture of ongoing and planned investments which the European Commission foresees to be mobilised for sustainable transport development in Central Asia in the short term.
On the first day of the Forum, as part of the overall €10 billion commitment, the European Investment Bank (EIB), represented by its Vice President Teresa Czerwińska, signed Memoranda of Understanding totalling €1.47 billion with the Governments of Kazakhstan, Kyrgyzstan and Uzbekistan as well as the Development Bank of Kazakhstan. These loans will be made possible by guarantees provided by the European Commission.
Margaritis Schinas, the European Commission Vice-President for Promoting European Way of Life, said that the Investors’ Forum is an important milestone in the EU-Central Asia partnership, bringing together public and private investors from both regions to kickstart the work on the Trans-Caspian Transport Corridor to link Europe and Central Asia in a fast, safe and sustainable way, in line with the EU Global Gateway strategy. “This ambitious transport network will support economic growth, create local jobs, connect people to services, while contributing to regional integration,” he said.
“A modern Trans-Caspian Transport Connecting the Central Asian countries is the cornerstone of our efforts to promote increased regional economic integration and further growth in the region, as well as better connections with Europe,” said Adina Vălean, the EU Commissioner for Transport. “We have identified 33 physical infrastructure investment needs, ranging from modernising railways to increasing port capacity and fleet renewal. Today’s Investor’s Forum demonstrated the large interest from both institutional and private investors in supporting these projects.”
