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Loan agreement on rehabilitation of Korumdu - Balbai road signed

A loan agreement was signed between Kyrgyzstan and the Kuwait Fund for Arab Economic Cooperation on the project for reconstruction of Issyk-Kul ring road at Korumdu — Balbai section. The Ministry of Economy and Finance reported.

It is noted that 80.5 kilometers of the road will be repaired for $ 28.9 million. The project will ensure improvement of road communication between the resort area of ​​Issyk-Kul lake and the regions of the republic, as well as with Kazakhstan and China. In addition, thanks to it, the roadside infrastructure of the Issyk-Kul ring road will improve for the further development of domestic and international tourism. It will provide the development and growth of industrial production and agriculture and, accordingly, creation of new jobs, as well as connect Issyk-Kul with the roads of Kazakhstan and Russia, which will create a through transit along Russia — Kazakhstan — Kyrgyzstan — Tajikistan route.

«The project for reconstruction of Balykchi — Karakol — Balykchi road at Korumdu — Balbai Baatyr section, financed by the Arab Coordination Group (ACG), was approved back in 2017. In addition, a project for construction of a neurosurgical center of the National Hospital for $ 20 million was discussed at a meeting with representatives of the Kuwait Fund. The parties agreed to resume implementation of the project in the very near future,» the message says.