Uzbekistan to host EU bank office, expand projects
EIB to boost sustainable development in Central Asia, co-financing roads, rail, and renewables in Uzbekistan
TASHKENT, Uzbekistan (MNTV) — The European Investment Bank (EIB) plans to open a representative office in Uzbekistan by 2026, marking a significant step in deepening its engagement across Central Asia. The move is part of a broader push to boost investment in sustainable infrastructure in the region, according to senior EIB official Davide Monguzzi.
As reported by the Tashkent Times, Monguzzi announced the plans during the Tashkent Investment Forum. He highlighted that the bank’s future office would serve as a regional hub and likely be housed alongside the EU delegation to emphasize joint European cooperation.
The EIB has operated in Central Asia for over a decade but now aims to reach what Monguzzi described as a “new strategic level.” This includes active participation in the Trans-Caspian Transport Corridor — a major regional infrastructure initiative focused on sustainable logistics across multiple borders.
Uzbekistan, with its growing economy and young population, has become a focal point for the bank’s regional plans. The EIB intends to channel expertise from Europe into local development, especially in water management, railways, roads, and irrigation.
The bank’s 400-strong team of engineers from countries like Germany, France, and Italy are expected to collaborate with local partners to implement high-impact infrastructure projects.
Monguzzi emphasized that the bank plays a catalytic role in attracting other global financiers through its projects. In addition to direct investment, the EIB is working with institutions under the EU’s Global Gateway initiative and other international financial bodies to expand Uzbekistan’s development footprint.
Concrete steps are already underway. The bank is translating a memorandum of understanding with Uzbekistan’s Ministry of Transport into infrastructure projects in Karakalpakstan and Samarkand, aimed at easing traffic bottlenecks.
In April, Uzbekistan’s Deputy Transport Minister Ilhomjon Abdugafarov met with EIB representatives to discuss toll road construction on the Tashkent-Samarkand and Tashkent-Andijan routes, as well as a high-speed rail line connecting the two major cities.
The EIB is already co-financing nearly €1.5 billion in projects as part of a larger €10 billion commitment by European and international lenders to develop the Trans-Caspian Corridor. It also helped fund solar power plants by Masdar and Total Eren in Samarkand and other provinces as part of Uzbekistan’s renewable energy drive.
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