The ADB and the World Bank are investing $1.3 billion in the Middle Corridor project.

Astana. December 17. KAZAKHSTAN TODAY - The Asian Infrastructure Investment Bank and the World Bank are investing $1.3 billion in the Middle Corridor, according to the AIIB press service.

The Asian Infrastructure Investment Bank has approved funding of $650 million for the project "Kazakhstan: Enhancing Transport Resilience and Connectivity." This project, with a total budget of $1.53 billion, aims to upgrade a 498-kilometer stretch of the Karaganda-Zhezkazgan road, part of the Middle Corridor," the bank informed.

It is emphasized that the project is designed to significantly improve regional connectivity, strengthen climate resilience, and enhance road sector management along one of the key trade routes of Central Asia, linking Asia to Europe.

There are plans to transform the existing third-category highway into a first-category highway with two-way traffic, equipped with modern climate-resilient and safe features. Additionally, 40 kilometers of all-weather roads will be upgraded to ensure reliable access for rural communities to essential services and markets," the press service noted.

Furthermore, for the first time, the project will utilize a contract format of "design-build-operate" based on end results and performance indicators, which will optimize design, construction, and maintenance processes, enhance long-term efficiency, and attract private investments.

Earlier, Kazakhstan's President Kassym-Jomart Tokayev, during a meeting with World Bank Group President Ajay Banga, reported that the country, in collaboration with the bank, is implementing five major projects with a total budget of $3.5 billion in the areas of water resources, transport, and education.