AIIB to lend $150 mln to Kazakhstan for new Almaty freight rail bypassThe Asian Infrastructure Investment Bank (AIIB) has signed a $150 million loan agreement with Kazakhstan’s national railway company to fund the construction of a freight rail bypass around the northern part of Almaty, the bank said Wednesday.The funds, provided on a non-sovereign basis to Kazakhstan Temir Zholy (KTZ), will finance a new 75-kilometer, single-track, electrified railway designed to reroute cargo traffic away from the city’s urban core."Extending about 75 km between Zhetygen station in the east and Kazybek Bek station in the west, the route will provide a dedicated corridor for freight operations outside the densely populated city center. The bypass includes construction of new stations and supporting structures such as bridges and overpasses, as well as upgrades at both terminals," according to the press release.The AIIB loan is part of an expanded $300 million financing package co-provided by the International Finance Corporation (IFC), Standard Chartered Bank, and the Multilateral Investment Guarantee Agency (MIGA), all denominated in Swiss francs."The Almaty Railway Bypass Project removes one of the most significant bottlenecks in the national rail system, enabling faster, cleaner and more reliable freight movement,"  said AIIB Chief Investment Officer Konstantin Limitovskiy.Once completed, the bypass is expected to expand Kazakhstan’s capacity to support regional transit flows across Eurasia, including along the Middle Corridor trade route.Kazakhstan is a founding member of the AIIB, a multilateral development bank established in 2016 with 111 member nations, $100 billion in authorized capital, and an AAA credit rating. (ICE ALMATY)

Fonte notizia: INTERFAX