The European Investment Bank and the Ministry of investment and foreign trade of Uzbekistan signed on 24 September in the country’s capital, Tashkent, a Memorandum of Understanding paving the way for a €100 million investment program designed to save Aral Sea from extinction.

Under the program, EIB and the Uzbek government will invest in modernisation of the irrigation systems, as well as in land remediation in the Karakalpakstan region, which is home to 1.8 million people.

The next step towards the investment program will be the approval of the loan by the EIB, after which, the program will be implemented in partnership with the government of Uzbekistan and the European Union, within the framework of the United Nations Multi-Partner Human Security Trust Fund for the Aral Sea Region.