The Asian Development Bank (ADB) will provide $109.5 million for the construction of Barskoon — Karakol section of Issyk-Kul ring road. The Committee on Transport, Communications, Architecture and Construction of the Parliament of Kyrgyzstan approved ratification of the financing agreement.
According to Deputy Minister of Transport Beknazar Bazaraliev, ADB will provide $87 million of these funds as a loan, and the rest as a grant. The loan term is 32 years with an eight-year grace period. During this grace period, the interest rate on the loan will be 1 percent, and then 1.5 percent.
These funds will be used to build 75.2 kilometers of road from Barskoon to Karakol.
