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Tuesday, November 20, 2018

ASIAN DEVELOPMENT BANK: ADB has allocated US $ 78 million to improve sections of regional roads in the Kyrgyz Republic

Asian Development Bank issued the following announcement on Nov. 2.

The Board of Directors of the Asian Development Bank (ADB) approved funding in the amount of US $ 78 million to complete the rehabilitation of the road connecting two major transport corridors connecting the landlocked country to international markets.

The new project complements the financing of an existing project supported by ADB to improve regional connectivity, mobility and economic activity in the Kyrgyz Republic through the improvement of regional transport corridors throughout the country.

Additional aid, consisting of a loan of $ 68.5 million and a grant of $ 9.5 million from the Asian Development Fund, will improve two sections of the North-South Alternative Corridor road, namely the road from Balykchy 43 km and the Kochkor – Epkin section, total length 68 km), to provide a faster alternative route between corridors 1 and 3 of the Central Asian Regional Economic Cooperation (CAREC).

"The Kyrgyz Republic is largely dependent on road transport," said Mr. Narendra Singru, chief specialist for managing the ADB portfolio. “Weak internal and regional connectivity hampers a country's economic growth and development, which also limits mobility and economic opportunities for its citizens. This project will address some of these issues, facilitating the movement of goods and passengers and improving access to regional economic centers. "

In 2016, ADB approved a loan and a grant of US $ 114.35 million for the CAREC Corridors 1 and 3 connecting road project to rehabilitate the 70-kilometer section of the Epkin – Bashkugandy North-South Alternative Corridor linking the city of Balykchy with the Jalal-Abad region. The project aims to improve connectivity and mobility, it links economically vulnerable regions in the Kyrgyz Republic with economic centers, and also strengthens the institutional capacity of the Ministry of Transport and Roads.

In addition to the rehabilitation of an additional 68 km of road sections, in phase 2 of the CAREC Corridors 1 and 3 Link Road Project, the climate change adaptation mechanisms will also be included in the road design. The project will continue to support the government of the Kyrgyz Republic in improving road safety in the country.

Since 1996, ADB has funded 11 road projects and five technical assistance advisory projects in the Kyrgyz Republic for a total of $ 658 million. With the help of ADB, about 985 km of roads in major regional corridors, including CAREC 3 Bishkek – Osh and CAREC 1 Bishkek – Torugart, were rehabilitated and improved.

ADB is committed to developing a prosperous, integrated, resilient and sustainable Asia-Pacific region, while continuing its efforts to eradicate extreme poverty. ADB was established in 1966, it includes 67 member states, of which 48 countries are located in the region. In 2017, the total amount of ADB assistance was $ 32.2 billion, including co-financing of $ 11.9 billion.

Original source can be found here.

Source: Asian Development Bank

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