EBRD considers lending more than USD 200 mln to Kazakhstan for road reconstruction

ASTANA. KAZINFORM The EBRD is considering extending a sovereign loan of up to USD 243 million to the Republic of Kazakhstan for the reconstruction and widening of a 228 km section of the Center-South road corridor, leading from Astana to Almaty, between the villages of Kurty and Buribaytal in the Almaty region, Kazinform has learnt from the EBRD website.

The loan will be co-financed by a USD 217 million World Bank loan and a USD 228 million contribution from the state budget. The proceeds of the EBRD loan will be mainly used to rehabilitate the 81 km long section of the Road located close to Almaty (the "Project"). Full reconstruction of roads within the transport corridor connecting Astana and Almaty ("Center-South Corridor") is part of the Kazakhstan Strategic Plan 2020. The Kazakh Government is very close to completing the implementation of this strategic plan, with the major part or roads within the Center-South Corridor already having been rehabilitated. The remaining 228 km long section between the villages Kurty and Buribaytal (the "Road"), which remains in poor condition, restrains the transit of goods and passengers between the two main cities of Kazakhstan. The total cost of the project is USD 688 mln. For more information please follow http://www.ebrd.com/work-with-us/projects/psd/kurtyburibaytal-road-project.html