Kazakhstan and EU Sign €3 Million Contract on Critical Raw Materials

Kazakhstan and the European Union signed two significant agreements during the first official visit of European Commissioner for International Partnerships, Jozef Síkela.

The first document is a €3 million contract aimed at development of cooperation between the EU and Central Asian countries, The Caspian Post reports citing Kazinform.

The agreement will enable to determine joint projects and promote best international practices on creation of sustainable and responsible supply chains in the critical raw materials sector.

The second agreement is a framework loan agreement worth €200 million between the European Investment Bank and the Development Bank of Kazakhstan. Under this loan agreement, the EU will issue a €18 million guarantee. This financing will let support investment in sustainable transport and renewable energy sources in line with the goals of the flagship programs of the Global Gateway strategy along the Trans-Caspian Transport Corridor and Team Europe Initiative on Water Resources, Energy and Climate Change.

Jozef Síkela said that Kazakhstan and EU are reliable and true partners. According to him, the Global Gateway strategy will let build mutually beneficial relations with Kazakhstan. In his words, economies of Kazakhstan and EU depend mostly on technologies required for energy and digital breakthrough. He noted that the access to critical raw materials is essential for the EU to modernize economy, while Kazakhstan is keen on renovating its mining sector. This is the reason, why these agreements play a key role in strengthening the bilateral partnership, he said.

As it was reported, the European Commissioner for International Partnerships Jozef Síkela, is visiting Central Asian countries from March 12 to 18 to strengthen the EU-Central Asia cooperation ahead of the upcoming EU-Central Asia Summit.