BAKU, Azerbaijan, April 18. The World Bank (WB) has announced the decision to allocate $55 million for reconstruction of roads in the Issyk-Kul region of Kyrgyzstan as part of the Third Phase of the Central Asia Regional Links Program Project, Trend reports via the Ministry of Transport of Kyrgyzstan.
Of the total amount, $27.5 million is allocated as a grant and $27.5 million as a loan for 38 years.
The reconstruction is expected to enhance transportation between the Issyk-Kul region of Kyrgyzstan and the Almaty region of Kazakhstan, as well as improve connectivity to other countries in the region.
As part of this initiative, the project includes the reconstruction of the part of the Tyup-Kegen road, and the construction of the about 14 km of Karkyra-Turuk-Sary-Jaz road section.
The project will also entail the procurement of road maintenance and snow removal equipment.
The World Bank has been providing investments, technical assistance, advisory, and analytics to major economic sectors of Kyrgyzstan since the country joined the bank in 1992.