BAKU, Azerbaijan, January 2. The European
Investment Bank (EIB) sees 2025 as a turning point in the European
Union’s engagement with Central Asia and plans to further expand
its activities across the region in 2026, EIB Head of Division for
the region Edvardas Bumsteinas told Trend in an exclusive
interview.
He noted that the EIB has a financing target of €100 billion in
2025, supporting EU objectives such as climate action, clean
energy, sustainable water management, innovation, connectivity and
access to critical raw materials.
“2025 marked a turning point for the EU’s engagement in Central
Asia, implemented on the ground through the EIB,” he
emphasized.
According to him, the bank significantly expanded its activities
through new financing agreements worth €365 million, expected to
mobilise up to €1 billion in investments across Kazakhstan,
Kyrgyzstan, Tajikistan and Uzbekistan. These operations focus on
sustainable transport, digital connectivity, water management and
climate resilience, with many projects benefiting from EU budgetary
guarantees.
Bumsteinas added that the EIB has taken important steps to
deepen its regional presence. “We advanced negotiations on a
framework agreement with Turkmenistan, opening the door for future
EIB operations there,” he noted.
He confirmed that the appointment of Olivier Kueny as Head of
the EIB Regional Representation for Central Asia and the planned
opening of the first regional office in Tashkent in 2026 clearly
demonstrate the EU’s long-term commitment to the region and will
allow the Bank to work more closely with local authorities and
partners.
Addressing sustainable infrastructure and the green transition,
Bumsteinas said EIB-financed projects in Central Asia are closely
aligned with the EU’s Global Gateway strategy.
“EIB-financed projects in Central Asia strongly supported the
EU’s Global Gateway strategy, with a clear focus on
climate-friendly and sustainable infrastructure tailored to
national and local needs,” he said.
He noted that transport has been one of the key areas of
cooperation, particularly through investments in strategic
corridors. “In transport, the focus was on strengthening strategic
regional corridors, especially the Trans-Caspian route, to improve
trade flows, mobility and economic resilience,” Bumsteinas said,
stressing the growing importance of the corridor for connecting
Central Asia with Europe and global markets.
Water and environmental sustainability have also been priority
areas. “The EU, through the EIB, supported water supply, sanitation
and solid waste modernisation in the Kyrgyz Republic and advanced
work on the Aral Sea restoration initiative in Uzbekistan,”
Bumsteinas said, pointing to reforestation efforts and improved
irrigation management.
Energy projects played a central role in the bank’s regional
portfolio. Bumsteinas highlighted EIB financing for four solar
power plants in Uzbekistan with a total capacity of nearly 1,000
megawatts, as well as the upgrade of the Qairokkum hydropower plant
in Tajikistan. He also noted that the bank is assessing potential
participation in larger hydropower projects in Tajikistan and the
Kyrgyz Republic, alongside support for regional power connectivity
initiatives such as CASA-1000.
Speaking about the EIB’s role within EU initiatives, Bumsteinas
emphasized the bank’s function as a policy implementer. “The EIB
acts as a key implementing arm of EU policy, translating EU
strategic objectives into concrete investments on the ground in
close coordination with the European Commission, EU Member States
and local partners,” he said.
He cited digital connectivity projects as a clear example of
this approach. A Team Europe initiative combining a €35 million EU
grant with a €25 million EIB Global loan is bringing
satellite-based broadband access to around 1,600 villages in
Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.
“The project deploys satellite terminals connected to the
medium-earth-orbit network of SES, a Luxembourg-based satellite
operator. Around 3 million people in remote areas will benefit from
fast and reliable internet access,” he explained.
Looking ahead, Bumsteinas said Central Asia is becoming
increasingly strategic for both the region and the European Union.
“Our main conclusion is that Central Asia is becoming increasingly
strategic for both the region and the European Union, particularly
in terms of connectivity, energy security and climate objectives,”
he said.
He underlined the importance of local presence and blended
finance in achieving these goals. “The opening of the EIB regional
representation in Tashkent will allow the EU, through its bank, to
accelerate project preparation, respond more effectively to
country-specific needs and deepen cooperation with governments,
public institutions and the private sector,” Bumsteinas said.
Outlining priorities for 2026, he said the EIB will focus on
launching the Tashkent office, scaling up project development and
continuing support for sustainable transport and digital
connectivity. “The EIB, will also continue to back renewable
energy, climate resilience and environmental initiatives, including
major hydropower projects and further work on the Aral Sea
restoration,” he concluded.
