ECONOMY


ADB allocates $95 million to help rehabilitate North-South Corridor

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Baku, December 2, AZERTAC

The Asian Development Bank (ADB) has approved a loan and grant amounting to $95.1 million to rehabilitate a section of the North–South Alternate Road Corridor in the Kyrgyz Republic, according to official site of the ADB.

Once rehabilitated, the section will join two major Central Asia Regional Economic Cooperation (CAREC) corridors, providing a faster and safer alternative route to facilitate access to international markets.

“Having a robust road network is pivotal for a landlocked country like the Kyrgyz Republic, where road transport accounts for 95% of cargo and passenger traffic, to boost domestic and international trade and reduce poverty,” said Susan Lim, Transport Specialist with ADB’s Central and West Asia Regional Department. “Rehabilitating the road corridor will help improve national and regional connectivity, link economically underprivileged regions with economic hubs, and enhance efficiency and safer movement of goods and people.”

The ADB project will rehabilitate an estimated 70-kilometer section connecting CAREC Corridors 1 and 3 in the center of the Kyrgyz Republic. Rehabilitation of additional sections of the road will be cofinanced by the Eurasian Development Bank, Islamic Development Bank, and the Saudi Fund for Development while rehabilitation of other sections of the North-South Alternate Road Corridor is ongoing under the China Export-Import Bank financing.

CAREC Corridor 1 connects the Russian Federation and Europe to the People’s Republic of China and it is the only North-South road linking the central Kyrgyz Republic to the rest of the country and beyond. CAREC Corridor 3 connects the Russian Federation and Europe to the Middle East and South Asia. It is the only direct link between the southern and northern parts of the country, linking the capital Bishkek and the second largest, Osh, two major economic and agricultural hubs.

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