Development Bank of Kazakhstan, EIB agree on 200 mln euro investment in transport, renewable energy

ASTANA. March 13 (Interfax) - The Development Bank of Kazakhstan (DBK) and the European Investment Bank (EIB) have signed a framework loan agreement for 200 million euros to support investments in green transport and renewable energy sources, the press service of the European Union delegation to Kazakhstan said.

The press service said that the respective parties signed the agreement during the visit of European Commissioner for International Partnerships Jozef Sikela to Kazakhstan.

"This loan will be supported by an EU guarantee of 18 million euros. This funding will be instrumental in supporting investments in sustainable transport and renewable energy, in line with the objectives of the Global Gateway flagship programs on the Trans-Caspian Transport Corridor and the Team Europe Initiative on Water, Energy, and Climate Change," the press service said.

The agreement will facilitate the development of renewable energy infrastructure and further integration of Kazakhstan into the Trans-Caspian Transport Corridor, a key component of the Global Gateway strategy.

Sikela also attended the signing of a 3 million euro contract to advance cooperation in the area of critical raw materials between the EU and Central Asia. The agreement, as implemented by the European Bank for Reconstruction and Development, will help identify joint projects and promote international best practices in developing supply chains in the critical raw materials sector.

Sikela said that the EU overall aims to deepen its partnership with Kazakhstan by attracting investment.

The EU's Global Gateway strategy aims to mobilize 300 billion euros in public and private investments globally by 2027, supporting sustainable growth, enhancing digital, energy, and transport connectivity, and promoting stronger education and research systems.