EIB talks working out framework agreement with Turkmenistan
By Trend
The European Investment Bank is currently active work in Central
Asia, and has recently spoken regarding its activities in
Turkmenistan.
"Outside the European Union, the European Investment Bank supports
projects contributing to economic development in countries which
have previously signed association or cooperation agreements with
the European Commission," the EIB told Trend.
"These agreements cover all lending activities that the Bank is (or
may be) authorised to do in these countries. A framework agreement
with a country in general regulate relations between the respective
country and the EIB, our legal status in the country etc. and
requires legislative action in the partner country as well as the
approval from our shareholders represented in the Board of
Governors," the bank said.
Without the EU mandate and framework agreement the EIB cannot be
active in a country outside the European Union, the EIB said.
"At the moment the EIB does not have a framework agreement with the
Republic of Turkmenistan and therefore is not currently active in
the country," the EIB representative said.
"The EIB is working towards a framework agreement with the Republic
of Turkmenistan which, once signed, would allow us to finance
operations in the country," said the bank.
The negotiations on the issue of signing a Framework Agreement with
Turkmenistan that would provide a legal basis for EIB activities in
this country have been going on for several years. In 2018 the EIB
told Trend that the framework agreement has yet to be signed with
Turkmenistan.
As for the rest of the Central Asia, loans provided by the EIB come
from the lending window for Asia provided under the mandate from
the Council and European Parliament for the period 2014-2020, out
of which €182 m has been made available for use in Central
Asia.
In addition, Central Asian countries are eligible under the Bank’s
own risk Climate Action & Environment Facility (CAEF) for
investment grade projects in renewable energy, energy efficiency,
carbon capture, transportation or storage projects aiming
specifically to reduce greenhouse gas emissions and projects
contributing substantially to security of EU energy supply.
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