The European Bank for Reconstruction and Development (EBRD) has granted a loan of up to $40mn to Kazakhstan to foster the advancement of modern logistical infrastructure and tackle challenges along the Trans-Caspian International Transport Route (TITR), as outlined in a study on sustainable transport connections between Europe and Central Asia, as reported by the bank's press service on December 27.
The loan, directed towards Eastcomtrans, Kazakhstan's largest private rolling stock operator, aims to enhance container handling capacity at a critical junction near Almaty and ensure the uninterrupted functionality of its railway fleet.
Eastcomtrans, a client of the bank since 2014 and holding ownership of 8% of the nation's total rolling stock, plans to utilize the funds for the development of its Zhetygen logistical center. The investment will also facilitate the acquisition of up to 250 new rail cars and the maintenance of the existing stock, contributing to the overall improvement of transportation infrastructure.
The upgraded Zhetygen logistical hub, strategically located near Kazakhstan's largest municipality and in proximity to the Chinese border, is set to play a crucial role as a key junction on the TITR. It is expected to enhance the efficiency of cargo traffic throughout Kazakhstan, especially considering the anticipated growth in trade volumes, particularly in container traffic, between Asia and Europe. This development positions the hub to meet the rising demand for freight transit.
In tandem with the project, Eastcomtrans is committed to implementing an equal opportunities strategy, aiming to increase women's employment in traditionally male-dominated occupations and enhance access to accredited training for both young women and men.
Kazakhstan, having received over €10bn ($11.1bn) through 313 projects to date, stands as the EBRD's largest and longest-running banking operation in Central Asia, reflecting the substantial investment and ongoing commitment to the country's development.
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