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Donors approve funding of project on reconstruction of road around Issyk-Kul

The project for reconstruction of Balykchi — Karakol — Balykchy road has been approved by almost all donors. The Ministry of Transport and Roads of Kyrgyzstan reported.

According to it, the total cost of the restoration of the highway around Issyk-Kul is $ 128 million.

Approval for financing of the project has been received from OPEC, Saudi Fund for Development, Kuwait Fund for Arab Economic Development. Confirmation of funding from the Abu Dhabi Fund for Development is pending.

«Domestic procedures for ratification of the loan agreement with the Saudi Fund for Development have been completed to date. Work is underway on the comments to the loan agreement from the Ministry of Foreign Affairs of the Kyrgyz Republic with the Islamic Development Bank,» the Ministry of Transport stressed.