Published on : Friday, October 12, 2018
The World Bank has said that about 2.5 million people are expected to benefit from local integrated development and promotion of sustainable tourism in Kyrgyzstan’s Issyk-Kul Oblast, due to a new phase of the Central Asia Regional Links Program.
The World Bank’s Board of Executive Directors have approved the Third Phase of the Central Asia Regional Links Program (CARs-3), amounting US $55 million from the International Development Association (IDA), including US$ 27.5 million as a concessional credit and US$ 27.5 million as a grant. An additional grant of US$ 1.93 million is also provided from the Korea World Bank Partnership Facility (KWPF) for technical support.
Users of road and aviation transport – including visitors from Kazkahstan, Russia and Europe – will benefit from improved roads and aviation safety and better cross-border connectivity and revitalized economic exchanges along the Silk Route in Central Asia and beyond.
To quote Bolormaa Amgaabazar, World Bank Country Manager for the Kyrgyz Republic, “Road rehabilitation will spark the development of Issyk-Kul Oblast. The emphasis on regional and territorial development coincides with the announcement by the President of the Kyrgyz Republic that 2018 is the Year for the Development of Regions. Comprehensive and interlinked modernization of transport-tourism infrastructure will lead to diversification of the economy – key to sustainable social and economic growth and people’s welfare.”
Rehabilitation of roads will promote tourism and trade, connect people to markets, and generate additional jobs.
Tags: World Bank