The European Union (EU) has pledged €10 billion for the expansion of the Trans-Caspian Transport Corridor. This was announced by the European Commission (EC) at the Global Gateway investor forum in Brussels, where representatives from governments, financial institutions, and civil society came together. With these investments, the EC aims to create an efficient route for intermodal transport between Europe and Central Asia, linking the two regions in 15 days and bypassing Russia. The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) signed letters of intent for projects worth several billion EUR. According to the EC, the funding is part of efforts to establish alternative trade routes to Russia and to promote the economic development and regional integration of Central Asia. The forum builds on a study that identified necessary investments in infrastructure and connectivity in the region.
