EDB: Kazakhstan to allocate over $12B for Middle Corridor projects

Over $12 billion is planned to be directed toward the implementation of Kazakh projects within the Middle Corridor, Aidos Omarov, Senior Analyst at the Center for Integration Studies of the Eurasian Development Bank (EDB), said at the presentation "Infrastructure of Transport Corridors in Eurasia: Development Results and Key Investment Trends," Report informs.

He emphasized that Kazakhstan acts as the largest transport hub not only in Central Asia but in the entire Eurasian region.

"We record about 55 projects with a total cost of $32.6 billion. This accounts for almost half of the entire investment portfolio of Central Asia. The main share of investments (about $22.7 billion) falls on the creation of ground infrastructure - highways. They are followed by railway projects amounting to just over $6 billion," he specified.

Omarov drew attention to the fact that financing is based on various sources: 21 projects are funded from the national budget, 34 through debt financing, and 14 projects are being implemented with the participation of international banks.

"Kazakhstan has a diversified, extensive structure with several strategic directions. The most large-scale investments fall on the TRACECA corridor-they will require about $16 billion. The Central Eurasian corridor requires a comparable amount of funds, and just over $12 billion is planned to be allocated to the Middle Corridor," Omarov stated.