EIB seeks more cross-border infrastructure projects in Central Asia
The bank has allocated €900 million to Kyrgyzstan, Kazakhstan and Uzbekistan for water management and electricity grids.
The European Investment Bank (EIB) wants to finance more infrastructure linking Central Asian countries, Vice-President Marek Mora said during a visit to Astana. He said projects spanning national borders offered opportunities to support development across the region, beyond the benefits of individual national schemes.
Among the initiatives it supports is Kambar-Ata-1, a hydropower plant being developed jointly by Kyrgyzstan, Kazakhstan and Uzbekistan. The EIB has allocated €900 million to those countries for water management and electricity grids. Completion of the plant is expected around 2035, with annual generation capacity of 5.6 billion kWh.
Built on Kyrgyzstan’s Naryn River, the plant will store meltwater and release it in dry months, helping stabilise flows into the Syr Darya, which supplies farms and drinking water in Uzbekistan and Kazakhstan. Mora said ideas had also been raised for an electricity connection from Kazakhstan beneath the Caspian Sea to Azerbaijan, potentially extending to Europe.
In transport, KazAvtoZhol, Kazakhstan’s national road management operator, already has a €150 million loan for road improvements. A separate €200 million loan to the Development Bank of Kazakhstan targets transport and energy. Mora said a letter of intent envisaged increasing that amount by €120 million.
Mora said financing requires clear project objectives, transparent procurement and compliance with environmental and social standards. He also said the bank wanted investments to benefit Kazakhstan and the European economy or industry, with European participation desirable where possible. The EIB opened an office in Tashkent, Uzbekistan, in June.
