ADB Funding for Barskoon – Karakol Road Construction
The Asian Development Bank (ADB) has announced that it will be providing $109.5 million for the construction of the Barskoon — Karakol section of the Issyk-Kul ring road in Kyrgyzstan. The financing agreement was approved by the Committee on Transport, Communications, Architecture, and Construction of the Kyrgyz Parliament.
Deputy Minister of Transport, Beknazar Bazaraliev, explained that ADB will be providing $87 million of the funds as a loan, with the remaining amount being offered as a grant. The loan will have a term of 32 years, with an eight-year grace period. During this grace period, the interest rate on the loan will be 1 percent, and then increase to 1.5 percent.
The funding will be utilized for the construction of a 75.2-kilometer road connecting Barskoon to Karakol. This infrastructure project aims to improve transportation and connectivity in the region, ultimately benefitting the local community and economy.
This investment from ADB demonstrates the organization’s commitment to supporting development projects in Kyrgyzstan and promoting sustainable growth in the country. The construction of the Barskoon — Karakol road section is expected to enhance transportation links and facilitate economic activities in the area.
