ASTANA, Kazakhstan, December 28. To address bottlenecks identified in a study on sustainable transport connections between Europe and Central Asia, the European Bank for Reconstruction and Development (EBRD) is providing funds to support the development of modern logistical infrastructure along the Trans-Caspian corridor, Trend reports.
According to the bank, an EBRD loan of up to $40 million to Kazakhstan's largest private rolling stock operator, Eastcomtrans, will help improve its container handling capacity at one of the busiest junctions near Almaty and assure the continuous functioning of its railway park.
Eastcomtrans, a Bank client since 2014 and owner of eight percent of the country's total rolling stock, will use the funds, which will be available in both US dollars and Kazakhstani tenge, to expand its Zhetygen logistical center, acquire up to 250 additional rail cars, and maintain its existing fleet.
The bank believes that the enhanced logistical center, which is located in the country's largest municipality and close to the Chinese border, would serve as an important junction on the Trans-Caspian Corridor and increase the flexibility of freight flow across Kazakhstan.
With trade volumes, particularly container traffic, between Asia and Europe expected to rise, it will be able to meet growing demand for freight transit.
As part of the project, Eastcomtrans will develop an equal opportunities strategy to increase women’s employment in currently male-dominated occupations and improve access to accredited training for both young women and men.
With over €10 billion invested in the country to date through 313 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.