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It was announced today that the central Asian country of Kazakhstan will receive $700 million from the Asian Development Bank (ADB) to construct a 2,715-kilometer transport corridor being dubbed the “new Silk Road.”
This massive, $6.7 billion road-building endeavor, if successful, will be a boon to the fledgling nation’s growing infrastructure. The transport corridor will run from Khorogos, a city on Kazakhstan’s Chinese border, straight to its western front near Russia. Much like the original Silk Road, this project will create an intercontinental land link from Asia to Europe.
“This new silk road will boost trade between Beijing and Brussels, and create extraordinary economic opportunities for the people of Kazakhstan and their neighbors,” says Juan Miranda, director general of ADB’s Central and West Asian Department.
Click here to read more about this ambitious development project.