Kazakhstan to borrow $3.45 bln from international banks for Europe-China highway
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Kazakhstan has reached agreement with five international banks on financing of Europe-China highway section construction, Gudok refers to Interfax citing Dulat Kuterbekov, deputy Minister of Transport and Communications. According to the agreement the banks are to lend Kazakhstan $3.45 Bln including $2.155 Bln to be provided by the World Bank for 30 years.
As it was reported earlier, Kazakhstan plans to start reconstruction of its section of Europe-China transport corridor in May 2009. The work is to be completed in November 2012.
The corridor is to be 8,445 kilometers long including 2,787 kilometers crossing the territory of Kazakhstan. Apart from budget resources Kazakhstan plans to involve public-private partnership and to borrow resources from international financial institutes.