Kazakhstan to provide state warranty on road reconstruction in co-op with ADB
BAKU, Azerbaijan, May 20
By Nargiz Sadikhova - Trend:
Kazakhstan has approved an investment project on reconstruction of the Makat - Aktobe road section proposed for financing at the expense of private loans under state warranty for 2020, Trend reports with reference to the corresponding decree of Kazakhstan’s government.
The up for reconstruction road section is 459 km long and is a part of the Russian border - Aktobe - Atyrau – Russian border road. The overall cost of the project’s implementation is 72.7 billion tenge ($175.2 million).
The decree said that the lender within the project will be Asian Development Bank, whereas the borrower will be Kazakhstan’s QazAvtoJol National Company.
The state warranty will be 64.02 billion tenge ($154.2 million).
The proposed project will allow to expand regional cooperation and will contribute to economic growth in Kazakhstan, and especially in the Atyrau and Aktobe regions. The project will oversee reconstruction of the Aktobe-Makat road section, improvement for compliance with the standard category, and improvement of safety and technical road maintenance.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members.
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