The EU will allocate 10 billion euros for the development of a transport corridor between Europe and Central Asia
Executive Vice President of the European Commission Valdis Dombrovskis announced the allocation of 10 billion euros to develop sustainable transport links in Central Asia.
These funds will be raised from European and international financial institutions as part of the Global Gateway Investment Forum on transport connectivity between the EU and Central Asia, according to a press release from the European Commission following the first day of the forum in Brussels
The event, attended by a delegation from Turkmenistan, brought together governments, financial institutions, businesses, and civil society to discuss investments in the development of the Trans-Caspian Transport Corridor. This route should connect Europe and Central Asia in just 15 days.
In addition to opening up new trade opportunities, developing transport networks will also strengthen regional integration and economic development in Central Asia. Therefore, investments will be aimed at creating sustainable transport links in accordance with the principles of the Global Gateway initiative.