EBRD, IBRD to finance construction of Beineu-Saksaulskiy highway

The meeting focused on the issues of attracting funding from the European Bank for Reconstruction and Development (EBRD), the International Bank for Reconstruction and Development (IBRD), the Asian Infrastructure Investment Bank (AIIB), and the Islamic Development Bank (IsDB) to implement major infrastructure projects under state guarantees.

Particular attention was given to the construction of the Beineu-Saksaulskiy highway which will become a part of the Trans-Caspian International Transport Route (TITR). At the President’s instruction, the construction of the 765-kilometer road, including the Beineu-Saksaulskiy and Bozoi-Shalkar sections is set to begin in the near future.

According to the Ministry of Transport, the feasibility study and initial construction works are scheduled to commence soon. Both the EBRD and IBRD confirmed their readiness to support the project, issuing letters of mandate on the intention to allocate over 800 billion tenge.

The meeting also addressed the joint implementation of the Transforming Rail and Connectivity in Kazakhstan (Middle Corridor Development) project of JSC NC Kazakhstan Temir Zholy, in partnership with the IBRD and AIIB, to develop the Trans-Kazakhstan Railway Corridor.

In addition, the meeting discussed cooperation with the Islamic Development Bank aimed at construction of engineering and communications infrastructure in special economic and industrial zones. According to the forecasts of the Ministry of Industry and Construction, the provision of such infrastructure is expected to boost the gross value added of the processing sector by 6.1% by 2030.

The implementation of these infrastructure projects will significantly enhance the country's potential as an international transit hub, and will also contribute to economic growth and improving the business environment.