Contacts:
In Almaty: Elena Karaban (7-727) 2980-580 (ext. 247)
+7-701-711-9205
[email protected]
In Washington: Michael Jones (202) 473-2588
[email protected] ALMATY, June 20, 2008 – Kazakhstan and the World Bank Group announced plans to jointly finance a $2.5 billion road project to help upgrade the trade route between Asian countries and Russia and Europe. It is expected to boost Kazakhstan’s competitiveness and to bring significant economic benefits both to Kazakhstan and to the broader Central Asia region. The agreement on Kazakhstan’s largest transportation project was announced after meetings between Prime Minister Karim Massimov and World Bank Group President Robert B. Zoellick, who has just concluded a three-day visit to assess how the institution can better serve the Central Asian country. “Following part of the ancient Silk Road that linked East and West, this project will establish a modern transport corridor through Kazakhstan,” said Mr. Zoellick. “It will boost Kazakhstani trade, competitiveness, logistics, and infrastructure connections with the world, while providing an artery for regional economic cooperation.” The World Bank is expected to finance and rehabilitate a 1,025 km stretch of road between Shymkent and Aktobe. The World Bank supported road project is part of a $7.5 billion project to upgrade the 2,800 km road corridor from Kazakhstan’s border with China (at Khorgos) to the border with Russia (at Srym). Implementation of the project will begin in 2009. This will be the largest infrastructure project of the World Bank in Central Asia. The World Bank is cooperating closely with other partners on the larger project, including; the Asian Development Bank, the Islamic Development Bank and the European Bank for Reconstruction and Development. - ### -
For more information on World Bank activities in Kazakhstan, please visit
www.worldbank.org.kz
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