BAKU, Azerbaijan, September 1. The Saudi Fund for Development (SFD) is participating in the financing of the fourth phase of the Taraz-Talas Road Project in Kyrgyzstan by providing a soft development loan of $30 million, a source at the SFD told Trend.
According to the provided information, the agreement is directed towards the reconstruction of a 93-kilometer stretch of the road. This effort is intended to enhance road safety, improve road quality, and foster smoother local and international trade connections.
The project is being collaboratively funded, with contributions from multiple funds within the Arab Coordination Group.
It was noted that since 2011, SFD has given Kyrgyzstan 10 soft development loans. These loans, adding up to $330 million, have been used for 10 different projects. Among these, five focus on improving transportation. There are also projects related to education, health, water supply, and irrigation.
Since its establishment in 1974, the SFD has provided backing to 30 Asian countries with over 265 development projects and programs totaling $7.3 billion.
The SFD has given financial assistance to Uzbekistan, Turkmenistan, Tajikistan, Kyrgyzstan, and Kazakhstan. They funded projects in areas like farming, energy, transportation, social projects, and more.
