...

IsDB talks Kyrgyzstan's transport sector modernization

Kyrgyzstan Materials 8 February 2023 18:02 (UTC +04:00)
IsDB talks Kyrgyzstan's transport sector modernization
Maryana Ahmadova
Maryana Ahmadova
Read more

BAKU, Azerbaijan, February 8. The Islamic Development Bank (IsDB) continues to modernize Kyrgyzstan's transport sector, Ibrahim Shoukry, Head for the IsDB Regional Hub Kazakhstan, told Trend.

"In February 2021, the Islamic Development Bank signed a concessional loan facility with the Government of Kyrgyzstan to partially finance Issyk-Kul Ring Road Project," he said.

According to Shoukry, the aim of the project is to improve the efficiency of the road transport infrastructure and ensure safe movement of goods and people along the project road section.

"Specifically, it will help cope with current traffic and meet future demands for transportation, eliminate the current road efficiency constraints, which is caused by the poor design and condition of road. Eventually, average travel time as well as vehicle operating costs will decrease," he explained.

As a result, a 80.5 km 2-lane road will be upgraded to 4 lanes. At the same time, 13 bridges and 506 culverts will be rehabilitated, 20 piece of road maintenance equipment and 3 mobile weighing stations will be purchased to ensure the operational sustainability, the bank representative said.

Moreover, in December 2022, the IsDB approved to partially financing the Reconstruction of Suusamyr-Talas-Taraz, Phase-4 Road project in Kyrgyzstan.

"The project's objective is to improve the efficiency of the road transport infrastructure and ensure the safe movement of goods and people along the project road section," he said.

In addition, the IsDB is studying several projects in the social, agricultural and energy sectors for the period 2023-2024, Shoukry added.

At the same time, the IsDB plans to launch a Country Partnership Strategy for Kyrgyzstan for the period 2023-2025.

There are 10 projects in transportation sector that the IsDB has in Kyrgyzstan, 8 of which have been carried out already. The total funding for projects in this sector amounted to $131.9 million.

The IsDB's total project portfolio in Kyrgyzstan as of today has totaled $421million. In total, 71 projects of the Bank are present in the country, out of which 52 have been already implemented, while 19 are still underway.

Tags:
Latest

Latest