A loan agreement for $20 million has been signed in Jeddah, Saudi Arabia between the government of Tajikistan, represented by Abdusalom Qurboniyon, Minister of Finance, and the Islamic Development Bank (IsDB), represented by its President Ahmad Mohammed Ali.
The amount of this loan is allocated for co-financing the project in the transport sector “Construction of Kulob-Kalaikhumb Road Project, Sections A and F”.
According to the Ministry of Finance (MoF) Secretariat, the project aims at constructing of a 58-kilometer two-lane road, including the 32-kilometer Section A connecting Kulob and Shouroobod and the Section F with the length of 28 kilometers connecting Shkev and Kalaikhumb.
The total cost of the project is $115.5 million, including the $20 million loan provided by IsDB.
The main objective of the project is supporting social and economic development of the south-east region of Tajikistan by providing the year-round ground-based transportation service between the western part of Tajikistan and the eastern region of the Gorno Badakhshan Autonomous Region (GBAO).
Besides, the project aims at improving regional transit and development of trade with neighboring countries – Afghanistan, China, Kyrgyzstan, Pakistan, and Uzbekistan. (News.tj/Business World Magazine)