28 January, 2019

ADB to finance development of Central Asian railways

483 timeviewed

The Asian Development Bank (ADB) has approved a grant of $2 million for the development of railways in the countries of Central Asian Regional Economic Cooperation (CAREC), reports Trend.

ADB Senior Transport Specialist Jurgen Sluijter noted that rail transport should be the preferred mode of trade in the region, but it is still difficult for railways to compete with road transport.

“This grant will support the research and development of a regional railway system that will be fast, efficient, accessible to users and easy to use throughout the region,” Jurgen Sluijter added.

The project will explore the railway market and develop a regional model of railway traffic.

Earlier, countries of the Central Asian Regional Economic Cooperation adopted a strategy on railways until 2030.

The CAREC program brings together Afghanistan, Azerbaijan, Kazakhstan, China, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan. Its work is supported by six large financial institutions, including the World Bank, the European Bank for Reconstruction and Development, the International Monetary Fund and the Asian Development Bank which serves as the CAREC secretariat.

Last news

50 people recovered in Kazakhstan

Coronavirus • Yesterday

45 children infected COVID-19 in Kazakhstan

Coronavirus • 06 April, 2020

120 health care workers infected in Kazakhstan

Coronavirus • 06 April, 2020

2 people recovered in Almaty, overall 44

Coronavirus • 06 April, 2020

Loans for SMEs provided

Economy • 03 April, 2020

New cases in Nur-Sultan and Almaty are stable

Coronavirus • 03 April, 2020

Humanitarian aid from China arrived in Almaty

Coronavirus • 02 April, 2020

5913 tourists returned from overseas

Kazakhstan • 02 April, 2020

11th patient recovered in Almaty

Coronavirus • 02 April, 2020

Global cases of coronavirus near million mark

Coronavirus • 02 April, 2020

Spain passes 100,000 confirmed cases

World • 01 April, 2020

Kazakhstan confirms 3rd death from coronavirus

Coronavirus • 01 April, 2020

What is coronavirus?

Coronavirus • 01 April, 2020

Similar news