BAKU, Azerbaijan, June 29. As part of its Middle Corridor initiative, the European Bank for Reconstruction and initiative (EBRD) is funding improvements to Kyrgyzstan's road network, Regional Head of Kyrgyzstan, Tajikistan and Turkmenistan for the EBRD, Ayten Rustamova told TurkicWorld
"Our bank plans to spend 1.2 billion euros in Trans-Caspian Corridor (Middle Corridor) infrastructure and transport solutions over the next 2–3 years. We have funded several transport infrastructure projects, including a 44.2 million euro sovereign loan to rebuild a 30 km part of the Issyk-Kul Lake ring road in Kyrgyzstan (Balbay Batyr-Karakol). The renovated route will boost transit and regional connectivity as part of the Trans-Caspian Corridor," she said.
Rustamova specified that, supported by the Türkiye-EBRD Cooperation Fund, the project will help reduce annual CO2 emissions by 16,000 tonnes by 2050.
"We would also like to mention the financial package of up to 11 million euros to the Kyrgyz Railways (Kyrgyz Temir Jolu, or KTJ) organized by the EBRD. It consists of a 12-year sovereign loan of 8 million euros and a 3 million euro grant provided by the EBRD Shareholder Special Fund. The funds will allow KTJ to replace its obsolete open-railcar rolling stock for the transportation of construction materials and agricultural produce," she said.
The regional head pointed out that the KTJ will also use the funds to restore critical railway infrastructure, such as the avalanche protection gallery in the Boom gorge.
"In a wider Central Asia region, we are exploring a number of public-private partnership initiatives and sustainable infrastructure projects, that will contribute to the fluidity of cargo traffic across the country and along the Trans-Caspian route," she added.
The Middle Corridor is a transportation and trade route that connects Asia and Europe, passing through several countries in the region. It is an alternative route to the traditional Northern Corridor and Southern Corridor.
The route starts in China and crosses Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe.
