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Kazakhstan, World Bank reached preliminary agreement on civil-engineering roads project for $2.5 billion

Almaty. June 23. Kazakhstan Today - Kazakhstan and the World Bank (WB) informed on their plans of joint financing of the project of construction of roads for the sum of $2.5 billion, which will help to improve trading communications of the Asian countries with Russia and Europe. The project will give a powerful impulse for increase in competitiveness of Kazakhstan and will bring significant economic benefits not only to the country, but also to all Central Asian region, the agency reports referring to WB press service. The Prime Minister of Kazakhstan Karim Masimov informed on the reached agreement on the largest transport project in Kazakhstan after the meeting with the President of the World Bank Robert B. Zoellick who has recently completed his three-day visit to Kazakhstan in order to define how WB can render services to this Central Asian country. "Following the route of the ancient Silk Way, which connected the East and the West, this project will construct in Kazakhstan modern trading corridor," R. Zoellick said. "It will improve development of trade and logistics, increase of competitiveness, infrastructural communications with the world, and will serve as an artery for the regional economic cooperation," he noted. WB will finance building and repair works along 1025 kilometers of the road between Shymkent and Aktobe. The road construction project, supported by WB, will become a part of the project with the total cost of $7.5 billion that will repair roads with the extent of 2800 kilometers from the Kazakhstan border with China (Horgos) up to the border with Russia (Srym). Realization of the project will begin next year. The project will become the largest infrastructural project in Central Asia. WB closely cooperates with such partners as the Asian Development Bank, Islamic Development Bank and the European Bank of Reconstruction and Development.

Resourse: Kazakhstan Today

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