The Eurasian Development Bank (EDB) has extended the first tranche under the loan agreement to finance the construction and operation of the Nurly Zhol automobile checkpoint and the operation of a transport and logistics center on a section of Western Europe – Western China road using a PPP mechanism.
Under the agreement, the EDB’s financing for the programme will total KZT 32 billion. The loan facility is extended until April 2020.
The Nurly Zhol automobile checkpoint is part of Eurasia’s Europe–China land transport corridor to be built under the initiative to develop the transit capacity of the EDB member countries’ transport systems and the Europe – Wester China road corridor project – the only transboundary project to develop transport infrastructure approved by the governments of Russia and Kazakhstan.
“This project is in the transport infrastructure sector, which is one of the Bank’s priorities,” Andrey Beliyaninov, Chairman of the EDB Management Board, comments. “It is also important to the EDB that the project promotes economic integration between its member states by creating transport infrastructure at the large trade and logistics node of the Europe – Western China road corridor running through Kazakhstan and Russia. The project will be a component of the system for through, high-speed cargo transportation along the Europe–China route.”
The project is expected to enhance transport infrastructure and transit potential of Kazakhstan’s transport system, which is one of the country’s strategic transport development priorities. In particular, it will create cutting-edge infrastructure to handle traffic, promote the development of transport and logistics services throughout the country, and create prerequisites for boosting foreign and domestic trade.
Original source: EDB
Published on 5 April 2018
