ADB approves Uzbek loan to revive Silk Road
The Asian Development Bank said on Friday it will lend $75.3 million to Uzbekistan to build part of a modern Silk Road across central Asia.
By Agencies |
MANILA: The Asian Development Bank said on Friday it will lend $75.3 million to Uzbekistan to build part of a modern "Silk Road" across central Asia.
Two sections of the A-380, a 1,204 km (746.5-mile) road that runs from the Kazakhstan border in Uzbekistan's north toward Afghanistan and Turkmenistan in the south, will be upgraded, the Philippines-based lender said in a statement.
Loan terms were not disclosed. "This highway is essential for enhancing regional integration and economic growth in Central Asia," said ADB transport expert Olly Norojono.
The loan was approved a month after Uzbekistan and seven neighbours agreed to an $18 billion strategy to improve roads, airports, railways, and ports to make the region a vital transit route for trade between Europe and Asia - a modern-day equivalent of the ancient Silk Road.
Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia and Tajikistan are the other parties.
Two sections of the A-380, a 1,204 km (746.5-mile) road that runs from the Kazakhstan border in Uzbekistan's north toward Afghanistan and Turkmenistan in the south, will be upgraded, the Philippines-based lender said in a statement.
Loan terms were not disclosed. "This highway is essential for enhancing regional integration and economic growth in Central Asia," said ADB transport expert Olly Norojono.
The loan was approved a month after Uzbekistan and seven neighbours agreed to an $18 billion strategy to improve roads, airports, railways, and ports to make the region a vital transit route for trade between Europe and Asia - a modern-day equivalent of the ancient Silk Road.
Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia and Tajikistan are the other parties.
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