The EIB received political approval from the Council of EU Ministers to become active in Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan) in late 2008.
The 2008 Council Decision was reconfirmed by the European Parliament and the Council of EU Ministers in July 2009.
The EIB will support the EU policy objectives of diversification of energy resources, by focusing its financing on projects in energy supply and energy transport, as well as on the protection of the environment.
The loans come from the EUR 1 bn lending window for Asia provided under the mandate from the Council and European Parliament for the period 2007-2013, out of which EUR 100 m has been made available for use in Central Asia. With a view to supporting EU external action without affecting the EIB’s credit standing, the EIB is offered a Community budgetary guarantee for operations carried out outside the Community, including Central Asia.
In addition, Central Asian countries are eligible under the Bank’s own risk Energy Sustainability & Security of Supply Facility (ESF) for investment grade projects in renewable energy, energy efficiency, carbon capture, transportation or storage projects aiming specifically to reduce greenhouse gas emissions and projects contributing substantially to security of EU energy supply.