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Bishkek, Oct. 12, 2018. /Kabar/. The Board of Executive Directors of the World Bank approved the Third Phase of a program to improve regional routes in Central Asia. $55 million will be allocated for he project, including $ 27.5 million in the form of a granWB to assist in improvement of roads and tourism in Issyk-Kul oblast
Bishkek, Oct. 12, 2018. /Kabar/. The Board of Executive Directors of the World Bank approved the Third Phase of a program to improve regional routes in Central Asia. $55 million will be allocated for he project, including $ 27.5 million in the form of a grant and $27.5 million in an interest-free loan for a period of 38 years. An additional grant of $1.93 million is provided by the South Korea-World Bank Partnership Fund (KWPF) for technical support and the use of Korean experience in the development of national territorial plans. Reconstruction of roads will contribute to the development of tourism and trade, to establish communication with the markets and create additional jobs. “The emphasis on regional and territorial development coincides with the announcement by the President of Kyrgyzstan of 2018 as the Year of Regional Development,” Bolormaa Amgaabazar, head of the World Bank’s office in Kyrgyzstan, said. The project will finance the reconstruction of existing roads connecting Issyk-Kul oblast with Almaty region of Kazakhstan. Thanks to this direct route, the distance from Almaty to the administrative center of Issyk-Kul oblast, Karakol, is almost halved. This will improve access to recreational facilities and historical sites in Kyrgyzstan for tourists from Kazakhstan, who make up almost 70 percent of tourists visiting Issyk-Kul oblast. According to international experts, tourism in Kyrgyzstan has the potential of six-fold growth - especially in the area around Issyk-Kul Lake. The Partnership Fund between South Korea and the World Bank (KWPF) will provide grant assistance to co-finance the oblast’s integrated development strategy, as well as to hold the Issyk-Kul Investment Forum, scheduled for 2019. On a pilot basis in two regions – Aksuy and Tyup - geoparks will be created, combining the development of sustainable tourism with local initiatives. The safety of international aviation will be achieved by increasing the safety of flight and the qualifications of aviation personnel. The project will finance activities aimed at removing local airlines from the European Union’s black list and supporting the state in addressing issues related to aviation safety audits. The Third Phase of the Program for the Improvement of Regional Routes in Central Asia is part of a series of projects involving several countries. The first two phases are carried out at this time in the territory of Batken oblast and Sughd region of Tajikistan. The third phase of the Program for the Improvement of Regional Communications will be implemented during 2019-2024 by the Ministry of Transport and Roads in close cooperation with the Government Office, the Department of Tourism under the Ministry of Culture, Information and Tourism, and Issyk-Kul oblast administration. Read more