BAKU, Azerbaijan, March 20. Turkmenistan’s plans to modernise transport infrastructure and develop renewable energy align well with the climate and infrastructure priorities of the European Investment Bank (EIB), Olivier Kueny, Head of the EIB’s Regional Representation for Central Asia, told Trend.
"The European Investment Bank (EIB) sees Turkmenistan’s ambitions in transport and green energy as highly relevant in today’s global context, where both the European Union and Central Asia are facing major geopolitical and climate-related challenges," Kueny said.
According to him, Turkmenistan’s efforts to modernise transport networks and invest in renewable energy correspond with the EIB’s role as "Europe’s Climate Bank," which focuses on supporting sustainable, low-carbon infrastructure and building climate-resilient economies.
"In practical terms, this means prioritising projects that reduce greenhouse gas emissions, improve energy efficiency and promote the use of clean technologies," Kueny noted.
He also pointed out that the bank supports the European Union’s Global Gateway priorities in Central Asia, including development of the Trans-Caspian Transport Corridor (TITR), digital connectivity, clean energy and water projects, as well as initiatives related to critical raw materials.
"With direct access to the Caspian Sea, the country is a key node of the TITR corridor. Strengthening its rail, road, rolling stock and port infrastructure could help reduce the cost and time needed to move goods between continents, ultimately boosting trade and economic development," he said.
At the same time, Kueny stressed that the EIB evaluates the long-term sustainability of projects and encourages the use of international best practices, including transparent governance, thorough environmental impact assessments and meaningful stakeholder engagement. According to him, helps ensure that investments deliver lasting economic benefits while protecting the environment.
"It is important to note, however, that the EIB cannot yet operate in Turkmenistan as it does in other Central Asian countries. The recent mission to Ashgabat led by Edvardas Bumsteinas, Head of the EIB’s Division for Asia and the Pacific, together with myself as the recently appointed Head of the Regional Representation for Central Asia, focused specifically on negotiating a Framework Agreement that would allow the Bank to begin its activities in the country," he added.
The European Investment Bank (EIB), founded in 1958 and headquartered in Luxembourg, is the lending institution of the European Union that provides long-term financing for infrastructure, climate, energy, transport, digitalization and other development projects in EU member states and partner countries worldwide. The bank currently cooperates with more than 160 countries and focuses on supporting sustainable development, climate action and economic connectivity.
Turkmenistan and the EIB have been developing dialogue in recent years, primarily aimed at creating a legal framework that would allow the bank to begin operations in the country. In particular, the sides are negotiating a Framework Agreement that would establish the legal basis for EIB financing of projects in Turkmenistan. Potential areas of cooperation discussed between Turkmenistan and the bank include transport infrastructure, especially projects linked to the Trans-Caspian transport corridor, as well as initiatives in renewable energy, digitalisation, water management and other sustainable development sectors.