EU's Investment Push for Central Asia: A Closer Look
International Summit in Samarkand Unveils $13.2 Billion Aid Package for Central Asia Nations
Engaging in a fresh chapter of collaboration, the European Union (EU) has put forth a whopping €12 billion ($13.2 billion) investment plan for Central Asia under its Global Gateway initiative, as announced by European Commission President Ursula von der Leyen at the Central Asia-EU Summit in Samarkand.
Prioritizing Infrastructure and Partnership
To bring the regions closer, the EU has focused on a flagship project, the Trans-Caspian International Transport Route (TITR, or Middle Corridor). The EU has earmarked a staggering €10 billion ($11 billion) for this project alone [1]!
Apart from TITR, the EU is addressing climate, energy, water, digital connectivity, and critical raw materials. The aim is to transform Central Asia into a modern and efficient hub, connecting Europe and Asia [1] [2].
Trans-Caspian International Transport Route (TITR, Middle Corridor)
The EU and Central Asian countries have agreed to collaborate on supporting the Coordination Platform for the Trans-Caspian Transport Corridor. The goal is to create the Middle Corridor as a resilient transport route with transit times of no more than 15 days [1].
Digital Connectivity
The EU is partnering with Central Asia to bring connectivity to remote areas, schools, and hospitals via its satellites. In Kazakhstan alone, the EU plans to connect 2,000 schools and several hundred villages to European satellites this year, and extend this to 1,700 villages throughout the region in the upcoming years [1].
Climate, Energy, and Water
The Global Gateway package aims to make Central Asia a clean energy hub using renewable sources, improve climate resilience, and address regional water scarcity [1]. The EU has agreed to build dams in the region to secure water and energy resources [1].
Critical Raw Materials
Central Asia has significant reserves of global critical minerals. The EU, by endorsing a Joint Declaration of Intent on Critical Raw Materials, aims to establish local value chains for the region, ensuring that the value created stays in Central Asia and generates good jobs [1].
Cooperation with Kazakhstan and Uzbekistan
Kazakhstan and Uzbekistan play pivotal roles in the implementation of these initiatives given their strategic locations and economic potential [1]. Both countries will host and participate in various forums, deepening regional cooperation and investment attraction.
In summary, the EU's Global Gateway investment plan for Central Asia consists of a €12 billion package, focusing on infrastructure, digital connectivity, clean energy, water management, and critical raw materials. The aim is to strengthen regional integration, sustainable development, and economic resilience in Central Asia [1] [2] [3].
References:
- EU invests €12 billion in Central Asia
- EU and Central Asia forge stronger ties
- Global Gateway: EU's plan for Central Asia
- European Investment Bank in Central Asia
- EU and Central Asia strengthen cooperation
- The European Union (EU) has invested a significant amount in Central Asian environmental-science and politics, allocating €12 billion for a variety of projects under the Global Gateway initiative.
- One of the key projects is the Trans-Caspian International Transport Route (TITR, Middle Corridor), where the EU has promised €10 billion, aiming to establish a resilient transport route connecting Europe and Asia.
- In the realm of science and technology, the EU is partnering with Central Asian countries to bring remote areas, schools, and hospitals digital connectivity via European satellites.
- To address issues of climate change, energy, and water scarcity in the region, the EU plans to build dams and transform Central Asia into a modern and efficient hub, promoting renewable energy sources and improving climate resilience.
