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.