On January 29, Development Bank of Kazakhstan JSC (a subsidiary of National Management Holding «Baiterek») and the European Investment Bank signed a Memorandum of Understanding. Within this document, the parties will discuss possibilities for European support for projects in Central Asia that enhance the transport connectivity of the region with Europe, including maritime, aerial, and other infrastructure within the framework of the Trans-Caspian International Transport Route, as well as «green» projects.
Upon mutual agreement, the next step will involve the signing of a corresponding agreement for financing investment projects by the EIB.
«As part of the collaboration with the EIB, an agreement has been reached on the potential provision of loans by DBK totaling up to EUR 320 million. These funds can be utilized for financing projects in various sectors of the economy, including the development of sustainable transport infrastructure between Europe and Central Asia, as well as the development of 'green' energy. Such cooperation will contribute to the activation of trade relations between the two regions», commented Botagoz Abisheva, Deputy Chairman of the DBK Management Board.
The memorandum was signed on the sidelines of the Global Gateway Forum on Transport Connectivity of the European Union and Central Asia, held in Brussels on January 29-30. The event brought together representatives of government agencies, financial institutions and civil society from EU member countries, countries of Central Asia and the Caucasus, as well as Turkey.
It is noteworthy that the Global Gateway strategy is an initiative of the EU aimed at reducing global investment inequality and assisting in the development of connectivity in the digital, energy, and transport sectors. To achieve this goal, the European Union plans to attract up to EUR 300 billion in state and private investments from 2021 to 2027.
«EIB investments will improve the quality of life, enhance economic growth, and employment opportunities, which, in turn, will positively impact the development of social and gender equality. Transport is the foundation of the modern economy, promoting personal mobility and enabling the exchange of goods, capital, and services between the countries of the two regions. Additionally, investments in sustainable transport are key to addressing the adverse impact on climate and increasing the resilience of transport networks», emphasized EIB Vice President Teresa Chervinska.
