News
31 March 2021
OPEC Fund, IsDB help finance Kyrgyzstan road project
In:
Social infrastructure
Region:
Asia-Pacific
The OPEC Fund for International Development (the OPEC Fund) has signed a $10 million public sector loan agreement with Kyrgyzstan to co-finance the ‘Reconstruction of Issyk-Kul Road at a Section of Korumdu-Balbay Project’.
The project will upgrade and widen an 80km section 2N of the Balykchy-Karakol-Balykchy Ring Road, which serves 17 urban and semi-urban settlements populated by some 700,000 people. Other works include the construction of 12 bridges and 212 culverts, which will help divert mountain run-off for use in crop irrigation and raising livestock.
The project is being co-financed by the Kyrgyz government, the Islamic Development Bank (IsDB), the Kuwait Fund for Arab Economic Development and the Saudi Fund for Development.
