EIB Rolling Up Sleeves To Strengthen Its Climate Partnership With Kazakhstan

2025-05-30 08:05:17

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 30. The European Investment Bank (EIB) is enhancing climate partnership with Kazakhstan, said Vice President of the EIB Kyriacos Kakouris, Trend reports.

Speaking at a panel discussion on "The Innovation Challenge: Making Climate Action Work For All" at the Astana International Forum 2025, the vice president noted that the visit to Astana underlines the seriousness of the EIB's attitude to sustainability and partnership.

"We are present in Astana today, and this is proof that we recognize partnership, where everyone wins. We are saying that sustainability is very important," Kakouris mentioned.

According to him, the EIB is actively involved in the development of projects aimed at a sustainable future in Central Asia, and in particular in Kazakhstan.

"I will give you a specific example, starting with Kazakhstan. In March in Astana, we announced a special project with the Development Bank of Kazakhstan to support transport infrastructure and sustainable energy. This initiative leads to the country's energy diversification, that is, a gradual reduction in dependence on fossil fuels - in the direction of renewable resources," he explained.

Kakouris elucidated that the pivotal domains of engagement with Kazakhstan encompass the enhancement of infrastructural frameworks and the deployment of sustainable energy paradigms.

"We must implement climate projects, but of course we need to provide access to financing. We see that the Central Asian region, the Caucasus region, and all other countries must use all opportunities to develop this area, using renewable energy projects in particular," he also said.

He believes that Kazakhstan is already on the right track, with the backing of the EIB and the EU, to turn over a new leaf towards a sustainable development model.

"We must upgrade the infrastructure, and we see that today the infrastructure is improving, the number of renewable energy projects is increasing," Kakouris emphasized.

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