ADB provides $240.3 million loan to modernize Kazakhstan's transport system ADB.UL

The Asian Development Bank (ADB) has approved a $240.3 million loan to help Kazakhstan modernize its transport system, the Bank said.


"Improved transport connectivity will help increase trade links between Kazakhstan and the markets in East Asia, the Caspian Sea region, and further to Europe. Improved connectivity and mobility will play a catalytic role in the sustainable social and economic development of the country, open new opportunities for trade and investment, and support poverty reduction by raising local living standards," Zheng Wu, a Senior Transport Specialist with ADB's Central and West Asia Regional Department, 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 Bank said.


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 to the west, with the Russian Federation to the north, and with Turkmenistan to 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 the People's Republic of China and Southeast Asia," the Bank said.


Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members - 48 from the region.

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