EIB Lends Key Support To Kazakhstan's Ambitious Energy And Transport Overhaul

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, March 17. EIB Global - the global division of the European investment Bank, has signed a loan agreement worth 200 million euros with the Development bank of Kazakhstan (DBK), Trend reports via European Investment Bank.

This funding will sustain investments by public and private organizations in sustainable transport infrastructure, including the Trans-Caspian Transport Corridor, as well as projects aimed at diversifying renewable energy sources and other climate-related initiatives.

"Investments will support Kazakhstan's national road operator KazAvtoZhol with its road rehabilitation program, aimed at improving connectivity and infrastructure quality across the country. This initiative is key to advancing the Trans-Caspian Transport Corridor project, a crucial component of the European Union's Global Gateway strategy to strengthen ties between Europe and Central Asia," the information notes.

Meanwhile, in the transport sector, funding is expected to be used to rehabilitate 5,000 km of national and regional roads and improve accessibility for passenger and freight vehicles. Infrastructure modernization will also improve road safety and climate resilience.

This agreement was signed on the course of the first official visit of the European Commissioner for International Cooperation, Jozef Síkela, to Kazakhstan's Astana.

The European Investment Bank (EIB) is a long-term lending institution of the European Union, owned by its member states. It finances investments that contribute to the EU's political objectives.

EIB Global is a specialized unit of the EIB Group focused on enhancing the impact of international partnerships and development financing and is a key partner of the Global Gateway initiative.

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