ASTANA, Kazakhstan, July 14. The Asian Development Bank (ADB) plans to conduct a sovereign project to support the reconstruction of a connector road in Kazakhstan, Trend reports.
Overall, the bank plans to provide $260 million worth of loan for capital resources and $200,000 worth of special fund for technical assistance.
According to the ADB, the project is aimed at financing the reconstruction of a strategic, 208 kilometers highway section between Kyzylorda and Zhezkazgan in the Karaganda province.
Also, it will improve the efficiency, safety, and sustainability of the road network in central Kazakhstan and strengthen the institutional capacity of KazAvtoZhol National Joint Stock Company (KazAvtoZhol) in road safety, procurement, contract management, and environmental management.
This project aligns with Kazakhstan's national strategy until 2050, which aims to expand transport and logistics infrastructure in order to promote global integration, export competitiveness, and economic growth. It also aligns with the Central Asia Regional Economic Cooperation (CAREC) Program strategy until 2030, which includes the development of regional and national transport networks in order to meet growing social, economic, and trade connectivity needs.
The project is currently proposed and pending for approval which is scheduled to take place in 2024.