Baku, Azerbaijan, Sept. 27
By Elena Kosolapova – Trend:
The Asian Development Bank (ADB) has approved a loan and grant amounting to $95.1 million to rehabilitate a section of the North–South Alternate Road Corridor in the Kyrgyzstan, the bank reported.
“Once rehabilitated, the section will join two major Central Asia Regional Economic Cooperation (CAREC) corridors, providing a faster and safer alternative route to facilitate access to international markets,” the bank said.
The ADB project will rehabilitate an estimated 70-kilometer section connecting CAREC Corridors 1 and 3 in the center of the Kyrgyzstan. Rehabilitation of additional sections of the road will be cofinanced by the Eurasian Development Bank, Islamic Development Bank, and the Saudi Fund for Development while rehabilitation of other sections of the North-South Alternate Road Corridor is ongoing under the China Export-Import Bank financing.
CAREC Corridor 1 connects Russia and Europe to China and it is the only North-South road linking the central Kyrgyzstan to the rest of the country and beyond. CAREC Corridor 3 connects Russia and Europe to the Middle East and South Asia. It is the only direct link between the southern and northern parts of the country, linking the capital Bishkek and the second largest, Osh, two major economic and agricultural hubs.
Joining these two CAREC corridors will connect the southern regions of Batken, Jalal-Abad, and Osh with the northern regions of Chui, Issyk-Kul, Naryn, and Talas.
Kyrgyzstan joined ADB in 1994 and since then has received more than $1.5 billion in loans, grants, and technical assistance.