European Investment Bank to open regional office in Tashkent by year-end

According to Monguzzi, a memorandum on establishing the EIB’s representation in Uzbekistan was signed at the Samarkand summit in April of this year. This move paves the way for deeper cooperation and expanded investment opportunities.

“We finally signed the agreement with the government of Uzbekistan. This will allow us to open the office by the end of this year,” Monguzzi stated.

The bank aims to focus on sustainable infrastructure development, including projects in the transport and water management sectors. Among its priorities are initiatives in Karakalpakstan and Samarkand to improve traffic flow in heavily congested and narrow areas. Additional plans include irrigation system improvements, road construction, and modernization of railway lines. The EIB will leverage the expertise of its team of over 400 engineers for these efforts.

Monguzzi emphasized that as the European Union’s financial institution, the EIB seeks to bring the best European practices in sustainable infrastructure to Central Asia.

“We are focused on strengthening our relationship and moving toward the implementation of the memorandum of understanding signed with the Ministry of Transport – translating it into practical projects in Karakalpakstan and the Samarkand area. Our goal is to take tangible steps toward improving traffic conditions in areas currently experiencing congestion or delays,” he added.

The EIB also plans to sign four memorandums of understanding with Tajikistan, Kyrgyzstan, and Uzbekistan, outlining funding of €365 million. These funds will support projects in sustainable transport, water resource management, and climate resilience.

Additionally, the bank expressed interest in participating in toll road construction and potentially financing the high-speed railway between Tashkent and Samarkand. Credit lines for Uzbekistan’s logistics and transport companies are also under consideration.