Kazakhstan to receive $300 million for development of the Middle Corridor

The International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), the Asian Infrastructure Investment Bank (AIIB) and Standard Chartered have allocated $300 million to the operator of Kazakhstan's national railways for the development of the Middle Corridor. IFC Managing Director Makhtar Diop wrote about this on the social platform.

Diop noted that the funds will be allocated for the construction of a 130-kilometer electrified railway bypass around Almaty. The bypass is expected to reduce traffic congestion around Almaty by more than 40 percent, reduce delivery times to 24 hours, and improve cargo flows along the Trans-Caspian Transport Corridor (TCTC), also known as the Middle Corridor - a land route connecting China and Central Asia to the Caspian Sea and then to Europe.

The financing includes an investment of up to $50 million from the IFC, a loan of up to $150 million from the AIIB, and a loan of up to $100 million, supported by a guarantee offered by MIGA.

In 2024, cargo traffic on the Trans-Caspian International Transport Route increased by 62 percent, reaching 4.5 million tons. In 2025, cargo traffic on this route is expected to increase to 5.2 million tons, of which 4.2 million tons will pass through the countries participating in the route. Of this volume, 2.5 million tons will be dry cargo (96,000 TEU), and 1.7 million tons - oil. By 2027, the throughput of the middle corridor may reach 10 million tons per year, which will strengthen the transit potential of Azerbaijan and create conditions for attracting new investments in infrastructure. The target forecast for cargo traffic via the Trans-Caspian International Transport Route by 2030 is 11.4 million tons.

europetime.eu