ADB approves 240m dollar loan to Kazakhstan’s transport sector Investment
ADB approves $240m loan to Kazakhstan’s transport sector
By Elena Kosolapova – Trend: The Asian Development Bank (ADB) approved a $240.3 million loan to help Kazakhstan modernize its transport system, the bank said on Aug. 29.
Improved transport connectivity will help increase trade links between Kazakhstan and the markets in East Asia, the Caspian Sea region, and further to Europe, the bank said.
The project will reconstruct and upgrade about 299 km of a deteriorated section of the Aktobe–Makat road in the western part of the country, and introduce a modern transport information system to increase road traffic safety and logistics effectiveness. It will also establish fast transportation links connecting Astana and Aktobe with the major oil and mineral–rich city of Atyrau, and the country’s only international commercial seaport in Aktau.
The road is part of the Trans-Caspian Sea Transit Corridor Baku–Astrakhan–Atyrau–Aktobe–Aktau–Turkmen border, which connects Kazakhstan with Azerbaijan and Europe in the West, with Russia in the North, and with Turkmenistan in the South. It also links to the Central Asia Regional Economic Cooperation (CAREC) Corridor 1b at Aktobe and Corridor 6a at Makat, providing further access to China and Southeast Asia.