BISHKEK, Kyrgyzstan, November 5. The Cabinet of the Ministers of Kyrgyzstan has allocated $14 million to the China-Kyrgyzstan-Uzbekistan railway company, Trend reports.
The Chairman of the Cabinet of the Ministers of Kyrgyzstan, Akylbek Japarov, has signed a corresponding directive.
According to the justification report, the funds will be dished out as a contribution from Kyrgyzstan to the authorized capital of the company, courtesy of the state enterprise Kyrgyz Railways national company.
The China-Kyrgyzstan-Uzbekistan company was established on September 28, 2024. According to the Ministry of Justice, the CEO of the company is Zhou Xin. The founders of the company include Kyrgyz Railways, Uzbekistan Railways, and Beijing China-Kyrgyzstan-Uzbekistan Railway Company.
On June 6, 2024, an agreement was signed between China, Kyrgyzstan, and Uzbekistan to support the implementation of the railway project as well as to resolve financing issues. The Kyrgyz Parliament ratified the agreement on June 19, and President Sadyr Zhaparov signed it on June 27.
The railway is projected to be 486 km long, with about 312 km of the track passing through Kyrgyzstan.