The European Union has announced a 12 billion euro investment package as part of the "Global Gateway" program for the countries of Central Asia. Ursula von der Leyen, President of the European Commission, made the announcement on April 4 during the Central Asia – European Union summit, according to Spot.uz.
In her speech, the President of the European Commission highlighted four areas of cooperation between the regions: the Trans-Caspian Corridor; critical minerals; green energy; and digital connectivity.
She noted that both the EU and the Central Asian countries can achieve a great deal in these priority areas.
“To accelerate progress, today I proudly announce the Global Gateway investment package of 12 billion euros. It will bring together investments from our [European] Union and member states,” said Ursula von der Leyen.
She emphasized that this is a “European team approach,” adding that the new investment package will kickstart a new series of projects in Central Asia.
“This is truly the beginning of a new era in our ancient friendship,” the President of the European Commission underscored.
The 12 billion euro investment package will be allocated across four areas: 1) transport – 3 billion euros; 2) critical minerals – 2.5 billion euros; 3) hydropower and climate – 6.4 billion euros; and 4) satellite internet – 100 million euros.
Ursula von der Leyen also pointed out that two more forums this year will provide an opportunity to assess progress and identify new areas for cooperation.
In addition, the European Bank for Reconstruction and Development (EBRD) is developing a project package of approximately 7-8 billion euros until 2027, which will cover sectors such as critical minerals and renewable energy.
The European Investment Bank (EIB) is preparing to sign four memorandums of understanding with Tajikistan, Kyrgyzstan, and Uzbekistan and provide 365 million euros for sustainable transport, water regulation, and climate change resilience.
