Members of Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament have voted for ratification of a loan agreement signed between the Government of Tajikistan and the Asian Infrastructure Investment Bank (AIIB) for implementation of the Tajikistan: Obigarm-Nourobod Road Project–Long Bridge and Approach Roads (Project).
A regular sitting of the fifth session of the Majlisi Namoyandagon of the sixth conviction, presided over by its head, Mahmadtoir Zokirzoda, took place on May 8.
Presenting the document of lawmakers, the Minister of Finance Faiziddin Qahhorzoda said the US$75.5 million soft loan is provided for 29 years a with a six-year grace period.
The Project aims to improve connectivity along the Obigarm–Nourobod section of M41 Highway by constructing a long bridge and its approaches.
The M41 Highway, known informally and more commonly as the Pamir Highway, is a road traversing the Pamir Mountains through Afghanistan, Uzbekistan, Tajikistan and Kyrgyzstan with a length of over 1,200 kilometers.
The proposed Project will construct a 920-meter bridge and its approaches (the Long Bridge) on Obigarm–Nurobod section of M41 Highway to replace the existing segment that will be submerged by the Roghun dam reservoir.
The alignment replacement will ensure continued connectivity along a vital transport corridor in Tajikistan that connects central part of the country with northeast and border to Kyrgyzstan.
The Obigarm–Nurobod section of M41 Highway (73 kilometers) is referred to as the Overall Project, which has been divided into three sections: 1) the Obigarm–Tagikamar section is about 30km long financed by ADB and OFID (it is hereinafter referred to as Section 1); 2) the Tagikamar–Nurobod section is about 44km long financed by the EBRD (it is hereinafter referred to as Section 2); and 3) the 920-meter-long bridge and its approaches will be financed by AIIB (it is referred to as Section 3 or the Project).
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank and international financial institution that aims to collectively improve economic and social outcomes in Asia. It is the world's second largest multi-lateral development institution.
Headquartered in Beijing, China, the Bank currently has 109 members, including 14 prospective members from around the world.
The Bank started operation after the agreement entered into force on December 25, 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock.
