Kazakhstan: CAREC Transport Corridor I (Zhambyl Oblast Section) [Western Europe–Western People's Republic of China International Transit Corridor] Investment Program (Tranche 2)
In November 2008, ADB’s Board of Directors approved a $700 million multitranche financing facility (MFF) loan to support a $1.48 billion transport corridor construction and rehabilitation. ADB’s portion of the corridor would be cofinanced with the Islamic Development Bank (IDB, $414 million); the Japan International Cooperation Agency (JICA, $150 million); and the government ($216 million). These works were to contribute to the completion of the Western Europe–Western People’s Republic of China International Transit Corridor, which had an estimated total cost of $6.7 billion (including the $1.48 billion works supported by ADB); the European bank for Reconstruction and Development, the World Bank, and the private sector were each financing sections of the 2,715 kilometers (km) of road to complete the corridor by the end of 2012.
In October 2009, a periodic financing request report was approved for tranche 2 of the MFF. The 79 km of road and four maintenance depots were expected to cost $220 million, of which $187 million will be financed by ADB loan and the government will provide the $33 million additional financing required. At the same time, the IDB and the government would finance an additional 57 km segment, as part of the coordinated plan agreed at appraisal, although the ADB and IDB projects were managed separately. The total activities under the second phase of the MFF were expected to cost $415 million.
In September 2016, a project completion report was prepared for tranche 2 of the MFF which is the subject of this validation. IED overall assessment: Successful.