The Cabinet of Ministers of Kyrgyzstan takes a loan from the Islamic Development Bank to implement a project on reconstruction of Suusamyr — Talas — Taraz road. The Minister of Transport and Communications Tilek Tekebayev announced at a meeting of the Committee on International Affairs, Defense, Security and Migration of the Parliament.
According to him, the total amount of the loan is $50 million, it is taken for 25 years. The official noted that the interest rate is 1.5 percent with a seven-year grace period.
«Suusamyr — Talas — Taraz road is one of the most important transport routes in Kyrgyzstan. Three phases of the project have been implemented, the fourth one remains. The length of the reconstructed road is 93 kilometers, it runs through the territory of Talas region,» he said.
According to the minister, the total amount of the project is $105 million.
«In addition to the Islamic Bank, $15 million from OPEC is attracted to the project, the Saudi Development Bank provides $30 million, the Cabinet will allocate $10 million. In total, it was decided to allocate $89.3 million for construction,» the official said.
