EBRD lends nearly $200 million for reconstruction of Europe-China road’s Kazakh section
Azerbaijan, Baku, Jan. 9 / Trend E. Kosolapova/
The European Bank for Reconstruction and Development (EBRD) is providing $196.5 million to Kazakhstan for reconstruction and upgrading of a 62-km section of the road connecting the city of Shymkent and the Uzbek border, the bank reported on Wednesday.
"The project is part of the upgrading of the Western Europe - Western China international transport corridor linking Europe with China," the bank said.
This road will become the shortest road transport link from the Central Asian countries to Europe.
The whole corridor project is being financed by several International Financial Institutions including the EBRD, the World Bank, ADB (Asian Development Bank) and IDB (Islamic Development Bank).
The EBRD loan will be provided to the Government of Kazakhstan. The works will be implemented by the Ministry of Transport and Communications.
The overall length of the road between the Kazakh city of Shymkent and the border with Uzbekistan is 99 km.
"Kazakhstan is the largest landlocked country in the world, so roads are extremely important for the country. Economy, trade and integration depend on good road links," the bank said.
Since the beginning of operations in Kazakhstan, the EBRD has invested $ 5.9 billion in 158 projects.