BAKU, Azerbaijan, April 15. KazAvtoZhol, the International Bank for Reconstruction and Development (World Bank institution), and the Asian Infrastructure Investment Bank (AIIB) have signed an agreement on the Karaganda-Zhezkazgan highway project, TurkicWorld reports via the press service of the Kazakh government.
The signing took place during the visit of the Kazakh delegation to Washington.
The project is aimed at developing transport infrastructure, improving regional connectivity, and enhancing the country’s transit potential. The new highway is expected to significantly reduce travel time, improve road safety, and provide a strong boost to Central Kazakhstan’s development.
At present, procurement procedures are in the final stage. The highway will have a total length of 457 km, with the project cost estimated at 650 billion tenge ($1.3 billion). Design and construction works are expected to begin this year.
