DUSHANBE, July 4, 2011, Asia-Plus — A complex plan of development of infrastructure of highways and railroads within the Eurasian Economic Community (EAEC) has been worked out under financial and technical support of the Eurasian Development Bank (EDB).
According to the EDB press center, seven motor routes and seven rail routes providing passenger operations and cargo shipments in the East-West and North-South directions will be developed by 2020. The plan also includes establishment of international logistics centers.
The plan provides for implementation of 142 projects to improve the transportation infrastructure within the EAEC area, including 51 projects aimed at improvement of roads, 46 projects aimed at development of railroads and 45 projects aimed at establishment of the logistics centers, including 10 international logistics centers of the EAEC.
23 large projects with a total cost of 68 billion U.S. dollars requires attraction of investments from international financial institutions and development institutions, the press center reports.
The Eurasian Development Bank (EDB) is an international financial institution, a sub-regional development bank, founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and expansion of mutual trade and other economic ties in its member states. The EDB charter capital exceeds US$1.5 billion, it is formed of contributions by its current member states: Russia (US$1 billion), Kazakhstan (US$500 million), Armenia (US$100,000), Tajikistan (US500,000) and Belarus (US15 million). The charter capital may be increased by resolution of the Bank’s Council. On June 28, the EDB Council unanimously approved joining Kyrgyzstan as a new member of the Bank.
