The Chinese company Sieyuan Electric Co., Ltd. (Sieyuan) has received a 12-month exclusion from EIB-financed projects due to its historical misconduct in connection with an EIB-financed project in Tanzania. The exclusion was reached through a negotiated settlement agreement.
As part of this settlement, Sieyuan will be excluded from participation in EIB projects for a period of 12 months. Sieyuan will closely cooperate with the EIB, assist it in its efforts to investigate prohibited conduct in EIB-financed projects, and maintain its corporate governance and compliance system to ensure that such misconduct is not repeated.
During the investigation process, Sieyuan cooperated in full with the EIB and helped clarify matters and provided information and material related to the wrongdoing addressed in full transparency.
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More press releases
Energy storage: EIB Group supports EU tripartite initiative
The European Investment Bank (EIB) Group supports a new EU-level initiative to scale up energy storage as part of the clean energy transition. Announced alongside the meeting of EU energy ministers in Luxembourg, the tripartite agreement brings together public authorities, energy storage and renewables developers, and financial institutions to accelerate storage deployment, strengthen the energy system, stabilise prices and reduce reliance on fossil fuels.
The City of Joensuu in Finland receives €18 million EU grant and €120 million EIB loan for advancing a just transition and sustainable urban development
The urban development project in Joensuu is supported by the European Union under the Public Sector Loan Facility (PSLF), with a grant of €18 million complementing a €120 million loan from the European Investment Bank (EIB) and bringing the total project budget to €160 million. The remaining financing is provided by the City of Joensuu through its own resources (€22 million).
EIB Global supports Trans-Caspian Transport Corridor with €150 million for road rehabilitation in Kazakhstan
The European Investment Bank (EIB) is providing a €150 million framework loan to Kazakhstan to support the rehabilitation of strategic road infrastructure along the Trans-Caspian Transport Corridor (TCTC), a key route connecting Central Asia and Europe.
Backed by the European Union under the Global Europe (NDICI) framework, the financing will support investments implemented by Kazakhstan's national road operator QazAvtoZhol. The operation will improve transport connectivity, strengthen road safety and climate resilience, and facilitate trade and economic development across the region.
The investment forms part of the European Union's Global Gateway strategy and follows the Memorandum of Understanding signed between the EIB and Kazakhstan in 2024 to strengthen sustainable transport connections between Europe and Asia.
The programme will finance the rehabilitation of approximately 1,370 kilometres of roads across central and southern Kazakhstan, including sections linking the country with neighbouring Central Asian states. By improving transport efficiency and resilience, the investment will reduce travel times, improve road conditions and facilitate the movement of goods and people along one of the region's most important transport corridors.
EIB Vice-President Marek Mora, who oversees the Bank's operations in Central Asia, including Kazakhstan, said:
"Good roads do more than connect places on a map. They connect people, they let businesses reach new markets, make travel safer and faster, and create opportunities for communities. By investing in key transport links across Kazakhstan, we are supporting a corridor that is becoming increasingly important for trade between Europe and Central Asia while delivering tangible benefits locally. Hard infrastructure is the backbone for trades. This is what sustainable connectivity is about: creating practical connections that support growth, resilience and cooperation."
EU Commissioner for International Partnerships, Jozef Síkela, stated:
"The Trans-Caspian Transport Corridor is playing an increasingly important role in connecting Europe and Central Asia. Through this investment, and together with our partners, we are supporting the development of safer, more resilient and more efficient transport infrastructure in Kazakhstan. This is a tangible example of Global Gateway in action, strengthening regional connectivity, supporting sustainable economic development and deepening our partnership with Kazakhstan and the wider region."
EU Ambassador to Kazakhstan Aleška Simkić commented:
"The Trans-Caspian Transport Corridor is one of the key priorities under the EU's Global Gateway strategy. Developing efficient, reliable and sustainable transport connections between Central Asia and Europe strengthens trade, enhances economic cooperation and contributes to the resilience of global supply chains. This investment demonstrates the European Union's long-term commitment to fostering connectivity, prosperity, and strong partnerships across the region."
The programme is expected to generate around 5,900 person-years of employment during implementation, creating opportunities for local communities and supporting economic activity. By strengthening one of the main transport links between Central Asia and Europe, the investment will facilitate trade, improve regional connectivity and contribute to the objectives of the EU-Kazakhstan partnership and the Global Gateway strategy.