Kazakhstan and the European Union have signed agreements worth 800 million euros during the Global Gateway Forum
At the Global Gateway Investors Forum for the EU – Central Asia Transport Connectivity held in Brussels on January 29, Kazakhstan and the European Union (EU) signed four memorandums totaling over 800 million euros (US$865.7 million).
At the Global Gateway Investors Forum for EU – Central Asia Transport Connectivity in Brussels on January 29, Kazakhstan and the European Union (EU) inked four memorandums totaling over 800 million euros (US$865.7 million).
One of the agreements, worth 500 million euros (US$541.2 million), is a memorandum of understanding between Kazakhstan and the European Investment Bank (EIB) aimed at enhancing the transport sector's development for sustainable links between Europe, Kazakhstan, and Central Asia.
EU High Representative for Foreign Affairs and Security Policy Josep Borrell hailed the signing, noting its significant contribution to economic ties between Kazakhstan and the EU. He highlighted the focus on developing the Trans-Caspian International Transport Route (TITR) to bolster transit between EU countries and Central Asia through financing projects aligned with sustainable transport goals.
Additionally, three other memorandums were signed: one worth 320 million euros (US$346.4 million) between the Development Bank of Kazakhstan and the EIB, another on cooperation for strategic initiatives in road, railway, port, and logistics infrastructure development between Kazakhstan and the European Bank for Reconstruction and Development (EBRD), and an investment memorandum between DB C&E and the International Association "TITR."
Transport Minister Marat Karabayev expressed confidence in the agreements' potential to enhance Kazakhstan-EU cooperation and stressed the importance of the Global Gateway initiative in expanding global transport networks. He highlighted Kazakhstan's role in the Middle Corridor and its potential as an alternative route in East-West transportation.
Karabayev outlined plans to boost transit capacity and logistics assets over the next five years, including developing infrastructure and the terminal network for the TITR.(Source:astanatimes)
During the forum, European and international financial institutions committed to investing 10 billion euros (US$10.2 billion) in the TITR's development. The EIB Global signed memorandums for project co-financing with Kazakhstan, the Kyrgyz Republic, Uzbekistan, and the Development Bank of Kazakhstan (DBK) totaling 1.47 billion euros (US$1.6 billion).
The forum, attended by a Kazakh delegation representing public and private sector entities, emphasized sustainable transport corridors and fostering stronger Europe-Central Asia ties.
