The EDB Technical Assistance Fund finances a feasibility study to construct the Ayagoz–Bakhty railway in Kazakhstan
Almaty, 16 January 2023. As part of the Eurasian Development Bank’s (EDB) key investment mega-project to develop the Eurasian Transport Network, the EDB Technical Assistance Fund signed an agreement to finance the preparation by Kazakhstan Temir Zholy of a feasibility study to construct the Ayagoz–Bakhty railway and a new crossing on the Kazakhstan–China border.
The feasibility study will be completed by mid-2023. It will determine the optimal route and the best locations to set up a junction that would connect the railway with the territory of China and the Tacheng–Karamay line.
“When the feasibility study is completed, the EDB intends to finance the construction of the new Ayagoz–Bakhty railway and border crossing. The new infrastructure is expected to boost freight transport by 20 million tonnes per year. Importantly, the feasibility study is financed by the Bank’s Technical Assistance Fund and the relevant costs need not to be repaid. Technical assistance is a key advantage offered by the EDB as a development institution,” said Ruslan Dalenov, Vice Chairman of the EDB Management Board.
The new railway and crossing on the Kazakhstan–China border are a step in the development of the Eurasian Transport Network. The EDB took part in financing the following completed and ongoing projects that are part of the Eurasian Transport Network: the Big Almaty Ring Road (BAKAD), the Nur Zholy automobile checkpoint on the Chinese border and a new terminal of Almaty International Airport.
The Eurasian Transport Network is a key investment mega-project financed by the EDB. It comprises a pool of projects that develop international transport corridors in Eurasia to improve the transit capacity and build up exports and imports.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 16 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The EDB Technical Assistance Fund (TAF) is a special fund helping to create enabling conditions for investment and development projects in the Bank’s member countries. The Fund operates to enhance the Bank’s ability to finance investment projects that are in line with its mission. The TAF supports potential borrowers at the project preparation stage as well as national governments and organisations whose projects promote the institutional environment, economic development and growth. The Fund is financed from the Bank’s net profit and donor funds.
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