AIIB considering Kazakhstan's transport corridor reconstruction

Transport Materials 6 January 2020 11:29 (UTC +04:00)

BAKU, Azerbaijan, Jan.6

By Nargiz Sadikhova - Trend:

Asian Infrastructure Investments Bank (AIIB) is interested in funding the project of reconstruction of Center-West transport corridor in Kazakhstan, Trend reports with reference to the press office of Kazakhstan’s Ministry of Industry and Infrastructural Development.

According to the ministry, a number of meetings were held between state authorities of Kazakhstan and bank’s representatives on the funding mechanism of bank’s funding projects in Kazakhstan.

Within the framework of the meetings, the project of Center-West transport corridor reconstruction was presented to the bank’s representatives. In their turn, AIIB representatives expressed readiness to consider funding the project if Kazakhstan’s government expresses official interest.

In Dec. 2019, AIIB has approved a $46.7 million loan for the construction and operation of a 100-MW wind power plant in Kazakhstan’s Zhambyl region. When completed, it will be the largest in Central Asia. This is bank's first project in Kazakhstan.

AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, bank began operations in January 2016 and has now grown to 100 approved members worldwide.


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