
Saudi Fund for Development Supports the Government of Kyrgyzstan in Developing Key Transportation Projects
New road rehabilitation project will revitalize Central Asia’s prime tourist destination
Riyadh, Saudi Arabia, 24 December: As part of an official Republic of Kyrgyzstan state visit to Saudi Arabia, Dr. Khalid Al-Khudairy Vice President and Managing Director for the Saudi Fund for Development (SFD) and Mrs. Baktygul Jeenbaeva, Minister of Finance of the Republic of Kyrgyzstan signed a new infrastructure loan agreement.
SFD partnered with the Islamic Development Bank and the Kuwait Fund to contribute to the rehabilitation and improved construction of the 442 km long Lake Issykul Ring Road, which provides access from the Kyrgyz capital city of Bishkek to one of Central Asia’s prime tourism destinations. The second largest saline lake in the world after the Caspian Sea, Lake Issykul attracts millions of regional, international and local visitors per year. The road improvements will facilitate links to important transport networks into Russia, Kazakhstan, and Tajikistan, opening the Issykul region to more regional visitors.
‘We seek to invest our experience and resources to help build better futures for countries we partner with. Our vision is based on the Kingdom’s Vision 2030 which works to diversity our economy and share our expertise with others while also contributing to projects that bring socio economic benefits and prosperity to communities,” said Dr. Al Khudiary.
“The SFD and Government of Kyrgyzstan have a long history of working together to positively alter the social and economic landscape of this central Asian nation. The improvement of this important road network will assist in the commercial aspects of tourism development, and cross border transport of goods. On a micro level it will support the development of small to medium enterprise (SME) and jobs creation associated with tourism development,” he added.
The SFD is a major contributor to sustainable development aid, promoting stability and prosperity to the central Asian region since 1975. The SFD has contributed over USD 170 million in financial and technical assistance to a total of eight development projects in Kyrgyzstan.
Home >> Local News and Government Section
Passenger Growth Hits 5% in May
João Almeida: Racing for Glory and Riding for the Team
May Air Cargo Demand Up 2.2% Despite Trade Disruptions
UAE Team Emirates-XRG take home five National Championship victories
Jeddah e-prix double-header becomes most-watched formula e weekend in history, d ...
In the Presence of H.E. Al-Jasser … Mawani Signs Privatization Contracts for Mu ...
Hibrid and Alibaba Cloud Sign MoU to Deliver Advanced Streaming and Comprehensiv ...
Get Ready for Fabulous Summer Looks with BADgal BANG! Power Blue Mascara!
Make the Most of the Summer with an Unforgettable Stay at The Hotel Galleria Jed ...
UK Clinical Rotations Enriches SGU's students Medical Career
Equivator Invests SAR 30 million in Related to Drive MENA's Loyalty and Rewards ...
Bigger Thrills and Better Rewards Await You This Dubai Summer Surprises at Merca ...
CASIO Middle East & Africa Marks Six Decades of Calculator Legacy
SRMG Labs triumphs at Cannes Lions with Gold and Silver for The Second Release, ...
HSA Group Appoints Mr. Dirhem Abdo Saeed as Chairman of the Board
EASA and IATA publish comprehensive plan to mitigate risks of GNSS interference
Cluster 2 signs an agreement to advance smart airport operations in Saudi Arabia
African Energy Week (AEW) 2025 to Host Dedicated Energy Finance Track
EGYPTAIR discloses order for an additional six Airbus A350 aircraft
Riyadh Air places firm order for 25 Airbus A350-1000 aircraft