EU pledges 12 billion euros to consolidate its position in Central Asia

Today's EU-Central Asia summit ended with the announcement of a €12 billion package for the EU’s "strategic partnership" with Central Asia. 

The investment package includes €2.5 billion for critical raw materials in the region, €3 billion for the development of the Middle Corridor - a trade route linking China to Europe via the countries of Central Asia -  €6.4 billion for environmental projects and €100 million for digital connectivity.

At the summit's closing press conference, European Commission President Ursula von der Leyen praised the partnership as one that would benefit both Central Asia and the EU, which wants to invest in the local economies of these mineral-rich countries.

This is a "different approach" to that of China or Russia, "which extract raw materials without any added value" for Central Asia, von der Leyen added.

Caught between Russia, with its historical ties to the region, and China, with its strong influence on the region's economy, Brussels has sought to strengthen its presence in Central Asia since the war in Ukraine by holding several bi-regional meetings and summits.

Info: euractiv.com