The European Investment Bank (EIB) has officially opened its regional office for Central Asia in Uzbekistan's capital Tashkent, marking a major step in expanding its presence across the region as its project portfolio approaches €3 billion.

The new office was inaugurated by EIB Vice-President Marek Mora, who said the local presence will enable the bank to work more closely with partners and accelerate the transformation of investment plans into tangible projects, The Caspian Post reports via Anhor.uz.

The EIB has been active in Central Asia since 2009 and has already financed projects in Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.

Through its development arm, EIB Global, the bank supports projects in sustainable transport, renewable energy, water management, digital infrastructure, and climate resilience.

The institution is currently discussing a portfolio of projects with Uzbekistan’s Ministry of Investments, Industry and Trade under the country’s “Uzbekistan-2030” strategy and the European Union’s Global Gateway initiative.

Potential investments cover key sectors including transport, energy, water infrastructure, digital connectivity, healthcare, and critical raw materials.

According to the bank, the total volume of projects under consideration in Uzbekistan has reached approximately €1 billion, including signed agreements and existing memorandums of understanding.

The financing could be delivered through a combination of sovereign and sub-sovereign lending, public-private partnerships, private-sector financing, trade support between the EU and Uzbekistan, equity participation, and blended financial instruments.

During the Tashkent International Investment Forum, EIB Global and Uzbekistan’s water utility company, Uzsuvtaminot, signed a declaration of intent to explore advisory support for the Surum Wastewater Treatment Plant project in Tashkent.

If approved, the initiative would involve the construction of new wastewater treatment facilities with a capacity of 300,000 cubic meters per day, assisting to improve sanitation services and reduce pressure on existing infrastructure in the capital.

Uzbek Investment Minister Laziz Kudratov described the opening of the EIB office as a source of new expertise, financing opportunities, and long-term partnership for large-scale development projects.

Meanwhile, Toivo Klaar, Ambassador of the European Union to Uzbekistan, called the launch an important milestone in strengthening cooperation between the European Union and Uzbekistan.