World Bank and Kazkhstan to spend $2.5bn on roads

by Richard Kilner

Story link: World Bank and Kazkhstan to spend $2.5bn on roads

In a combined effort to promote trade in Asia, the World Bank Group and Kazakhstan have announced that they are to finance a $2.5bn road project.

The project will aim to bolster the transport infrastructure between Asia, Russia and Europe and thereby improve trading links.

Furthermore, it is forecast to enhance Kazkhstan’s economic competitiveness, in addition to bettering the general region.

The announcement of the decision was delivered after a three day visit to the country by the World Bank’s president, Robert Zoellick, during which he had meetings with Prime Minister Karim Massimov.

The World Bank is expected to improve a 1,025km (637 miles) stretch of road between Shymkent and Aktobe.

The road support project is part of a wider $7.5bn programme to bring 2,800km (1,740 miles) in the region up to scratch.