ADB Allocates US$95 Million Loan For Kyrgyzstan Road Project

The Asian Development Bank (ADB) has today approved a loan and grant amounting to US$95.1 million to rehabilitate a section of the North–South Alternate Road Corridor in the Kyrgyz Republic.

Once rehabilitated, the section will join two major Central Asia Regional Economic Cooperation (CAREC) corridors, providing a faster and safer alternative route to facilitate access to international markets, according to ADB.

The ADB project will rehabilitate an estimated 70-kilometer section connecting CAREC Corridors 1 and 3 in the center of the Kyrgyz Republic. Rehabilitation of additional sections of the road will be cofinanced by the Eurasian Development Bank, Islamic Development Bank, and the Saudi Fund for Development while rehabilitation of other sections of the North-South Alternate Road Corridor is ongoing under the China Export-Import Bank financing.

CAREC Corridor 1 connects the Russian Federation and Europe to the People’s Republic of China and it is the only North-South road linking the central Kyrgyz Republic to the rest of the country and beyond. CAREC Corridor 3 connects the Russian Federation and Europe to the Middle East and South Asia. It is the only direct link between the southern and northern parts of the country, linking the capital Bishkek and the second largest, Osh, two major economic and agricultural hubs.

Joining these two CAREC corridors will connect the southern regions of Batken, Jalal-Abad, and Osh with the northern regions of Chui, Issyk-Kul, Naryn, and Talas.

The rehabilitation of this connector road supports the Kyrgyz government’s National Strategy of Sustainable Development 2013–2017. The Kyrgyz Republic joined ADB in 1994 and since then has received more than $1.5 billion in loans, grants, and technical assistance. 

Source : QNA