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Transport Ministry looking for investors to build new road around Issyk-Kul

The Ministry of Transport and Roads of Kyrgyzstan is looking for investors for the construction of a new road around Issyk-Kul Lake. Arab banks may invest in the project of the ring road, the press service of the ministry reported.

The country seminar of the Islamic Development Bank, participants of which considered the policy of the institution, raised the issue of the possibility of financing Issyk-Kul ring road in conjunction with members of the Arab Coordination Group.

The portfolio of the Islamic Development Bank Group in Kyrgyzstan has increased in recent years and now includes 61 projects worth $ 323.6 million.

The IDB recently approved three new projects — construction of a section of the alternative North-South highway, development of Sarymsak irrigation scheme and the improvement of water supply and sanitation conditions.

«The government of the Kyrgyz Republic is considering the issue of accession to the Islamic Trade Finance Corporation and the Islamic Corporation for Insurance and Export Credits," the Ministry of Transport noted.