$ 240 Mln Allocated For Modernization Of Kazakhstan Transport System

$ 240 Mln Allocated For Modernization Of Kazakhstan Transport SystemThe project will help restore approximately 299 km of the destroyed section of the road Aktobe – Makat in the western part of the country.

The Asian Development Bank has approved a loan in the amount of $ 240.3 million for assistance to Kazakhstan in modernization of its transport system, Kazpravda.kz reports with reference to interfax.kz.

In particular, the funds allocated by the bank will help restore about 299 km of the destroyed section of the road Aktobe – Makat in the western part of the country and implement a modern transport information system to improve traffic safety and efficiency of logistics.

The road is part of the Trans-Caspian transport corridor Baku – Astrakhan – Atyrau – Aktobe – Aktau – border of Turkmenistan, which connects Kazakhstan with Azerbaijan and Europe in the west, with the Russian Federation – in the north, and with Turkmenistan – in the south. It also connects Corridor 1b of the Central Asia Regional Economic Cooperation (CAREC) in Aktobe and Corridor 6a in Makat, providing further access to the People’s Republic of China and Southeast Asia.

Transport links will also be established between the cities of Astana and Aktobe and major oil and rich mineral resources of Atyrau, as well as with the only international sea trade port Aktau.

Priority directions of the Government’s work within the framework of creation of favorable environment for regional economic development are: modernization of the transport system to increase the flow of goods through the country, improvement of internal transport links of strategic importance and regional influence, linking the capital and other urban centers, as well as the development of infrastructure centers in regions.

ADB’s mission, headquartered in Manila is to reduce poverty in the Asia and Pacific region through inclusive economic and environmentally sustainable growth, and regional integration.

Founded in 1966, it will mark its 50th anniversary of development of partnership in the region in December 2016. The shareholders are 67 countries, 48 of them are located in the region. In 2015, the amount of ADB assistance totaled $ 27.2 billion, including $ 10.7 billion of co-financing.

http://www.kazpravda.kz/

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