“I am very pleased to announce that the international community will commit to providing an overall package of €10 billion for sustainable transport connectivity in Central Asia,” European Union (EU) Vice-President Valdis Dombrovskis said at the Brussels Investment Forum on 29 January.

Liabilities in the amount of 10 billion euros are current and planned investments, the European Commission clarified. It expects to mobilize this amount in the short term for sustainable transport development in Central Asia.

Explaining that their long-term goal is to create a competitive, sustainable, smart and fast corridor that will connect Europe and Central Asia in 15 days or less, Dombrovskis drew attention to the importance of coordinated action by the countries of Europe and Central Asia, international financial institutions, private investors and companies .

The European Investment Bank (EIB), represented by its Vice President Teresa Czerwińska, signed memorandums of understanding totaling €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 because of guarantees provided by the European Commission.