At the second Global Gateway
Forum in Brussels, Kazakhstan, the Kyrgyz Republic, and Uzbekistan signed
memorandums of cooperation with leading European financial institutions - the
European Bank for Reconstruction and Development (EBRD) and the European
Investment Bank (EIB). This will help attract investment for the development of
renewable energy sources, the modernization of power grids, as well as the
implementation of the Kambarata -1 Hydropower Plant project in the Kyrgyz
Republic.
«This high-mountain hydroelectric power station will provide Kazakhstan not only with electricity but also with water. For us, the operation of this facility is particularly important for water and energy cooperation, as Kazakhstan is located downstream. Ensuring a stable water supply to our southern regions, especially during the growing season, is essential,» noted Kazakh Minister of Energy Yerlan Akkenzhenov.
«Memorandum of Understanding was for $1.5 billion for EBRD to provide
$500 million, we are considering to provide $500 million, each to Kazakhstan,
Kyrgyzstan and Uzbekistan. But this is the first Memorandum, there’s still a
number of things that needs to be done to complete this important regional
project,» said Hüseyin Özhan, EBRD Managing Director for Central
Asia and Mongolia.
The development of transit infrastructure was another topic discussed at
the forum. Participants noted that Kazakhstan is a key link in the
Trans-Caspian route connecting Europe and Asia. Thanks to this route, cargo delivery
times have been reduced by half.
«Therefore, the value of the so-called Middle Corridor has been growing exponentially each year. It is no coincidence that the volume of transportation along this route has also increased significantly. While 860,000 tonnes were transported along this route in 2020, the figure reached 4.5 million tonnes last year and is expected to rise to 5.2 million tonnes this year. The goal is to increase this number to 10 million tonnes by 2030,» said Roman Vassilenko, Kazakh Ambassador to Belgium, Head of Kazakhstan’s Mission to EU and NATO.
The development of energy and logistics within the framework of the
forum provides Kazakhstan with access not only to investments but also to
advanced technologies. This strengthens the country’s position as a strategic
hub between Europe and Asia.
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