The Act “About ratification of Letter-Agreement between Kazakhstan and IBRD for financing of reconstruction for the highway “Shymkent-Border of Zhambyl Oblast” was adopted yesterday at the plenary meeting of Senate in the Parliament of the RK

Draft of the Act “About ratification of Letter-Agreement between Kazakhstan and International Bank for Reconstruction and Development” (hereinafter IBRD) regarding amendments to the Loan Agreement for Reconstruction of Western Europe – Western China International Transit Corridor was ratified by the Act of the RK dated June 13, 2009.

Thus, Kazakhstan Loan for reconstruction of this road section of Transit Corridor composed the sum of 306.1 million USD (54.030 billion KZT) under the conditions of previously ratified Agreement, i.e. for the period of 19 years, including 5 years of grace period.

In addition, 54.1 million USD (8.115 billion KZT) will be provided from the republican budget.

References: The length of the road section “Shymkent – Border of Zhambyl Oblast” is 80 km, which has been planned to transfer into I technical category with 4-lane traffic and cement concrete pavement. Construction has been provided for 7 interchanges, 20 bridges and overpasses. At present the bidding procedure is in progress under the rules of IBRD. PeriodforimplementationoftheProjectis 2013-2015.