The Global Gateway Investors Forum for EU-Central Asia Transport Connectivity kicked off in Brussels, uniting stakeholders from governments, financing institutions, businesses, and civil society across Europe, Central Asia, and beyond. European Commission Executive Vice President Valdis Dombrovskis announced a substantial commitment of €10 billion from European and international financial institutions to support sustainable transport connectivity in Central Asia. This initiative is particularly crucial in light of the urgency to establish reliable trade routes between Europe and Asia, avoiding transit through Russia, emphasized by Russia’s invasion of Ukraine.
The Forum’s focus over the next two days is on discussions about the necessary investments to upgrade the Trans-Caspian Transport Corridor into a state-of-the-art, multimodal, and efficient route, enabling connectivity between Europe and Central Asia within a 15-day timeframe. Highlighting the importance of developing transport connectivity to strengthen regional integration and economic growth in Central Asia, the Forum adheres to the trusted connectivity principles of Global Gateway, emphasizing sustainability in all aspects of transport connections.
The €10 billion commitment comprises both ongoing and planned investments that the European Commission, following extensive consultations with international partners, envisions mobilizing for sustainable transport development in Central Asia in the short term. Significant commitments include the European Investment Bank’s (EIB) €1.47 billion loans, facilitated by guarantees from the European Commission, and the European Bank for Reconstruction and Development’s (EBRD) €1.5 billion investment pipeline with Kazakhstan. The Investors Forum, attended by high-level representatives from the EU, Central Asia, Caucasus countries, Türkiye, G7 nations, and other like-minded entities, builds upon the outcomes of the June 2023 study on Sustainable Transport Connections between Europe and Central Asia.
The Forum marks another milestone in the EU’s longstanding partnership with Central Asian countries, strengthening collaboration as the EU actively works towards establishing direct transport links with Central Asia through the Black Sea and Caucasus regions. Aligned with the Global Gateway strategy, the EU aims to reduce worldwide investment disparities and promote smart, clean, and secure connections, mobilizing up to €300 billion in public and private investments from 2021 to 2027 in a Team Europe approach.
Image source: https://ec.europa.eu/commission/presscorner/detail/en/ip_24_501