Kazakhstan Road Project Gets ADB Support

The Asian Development Bank will release USD700 million to assist Kazakhstan in building the “new silk road,” which extends from the city of Khorgos on the country’s border with the China, through Almaty and Shymkent, and to the western border with Russia. “This new silk road will boost trade between Beijing and Brussels, and create extraordinary economic opportunities for the people of Kazakhstan and their neighbors,” ADB Central and West Asia Department Director General Juan Miranda said. The Islamic Development Bank and Japan International Cooperation Agency will also provide USD414 million and USD150 million, respectively, for the road project. (“‘New Silk Road’ to Link Europe, Asia” - Asian Development Bank, Nov. 13, 2008)