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Eurasian Development Bank stops financing of Madaniyat - Jalal-Abad road

Eurasian Development Bank suspended financing of construction of Bishkek — Osh — Madaniyat — Jalal-Abad road with a length of 67 kilometers. Acting Director of the Investment Projects Implementation Group Sanzhar Asanaliev told today at a press conference.

According to him, the Eurasian Development Bank has seven complaints. The Ministry of Transport hopes that the bank will resume financing after settlement of all differences.

«Representatives of the bank came to Kyrgyzstan twice. The minister had a working trip to Moscow on this issue. Six points have already been settled. There were questions about the current project — presentation of reporting documentation, advance payments and approval of a detailed design. We have already received a positive conclusion on it. The bank asked to report on mobilization of a contractor, as well as to monitor funding so that the allocated money is used for its intended purpose. They asked for information about the resettlement plan. There was a question about activities of subcontractor,» said Sanzhar Asanaliev.

The Eurasian Development Bank decided to suspend funding because of these issues. The Ministry of Transport expects it to resume in September.

The project provides for allocation of a loan of $ 60 million, the share of the government of Kyrgyzstan is $ 12 million. Contractor is an Azerbaijani company Azvirt.