Almaty, Kazakhstan, 6 September 2024 – During his official visit to Kazakhstan, Islamic Development Bank (IsDB) President H.E. Dr. Muhammad Al Jasser accompanied by IsDB delegation, visited the BAKAD Ring Road Project in Almaty, a transformative infrastructure initiative that is co-financed by IsDB, the European Bank for Reconstruction and Development (EBRD), and Eurasian Development Bank (EDB). The visit underscored the strategic importance of the project in enhancing regional connectivity and driving sustainable economic growth in Kazakhstan and the broader Central Asian region.

The BAKAD Ring Road, spanning 66 kilometers, is Kazakhstan’s first large-scale public-private partnership (PPP) project and is designed to alleviate traffic congestion in Almaty by diverting traffic from the city center. The road traffic has reached over 75,000 vehicles per day, significantly improving mobility, reducing travel times, and enhancing air quality in one of Kazakhstan’s most vibrant cities. This project exemplifies IsDB’s commitment to supporting sustainable infrastructure that fosters long-term development.

Dr. Al Jasser highlighted the critical role of the BAKAD Ring Road in strengthening Kazakhstan’s position as a regional transport hub. The road serves as a vital link in the country’s transport network, connecting key trade routes and facilitating economic integration across Central Asia. The successful implementation of the BAKAD project is expected to generate substantial economic benefits, not only for Kazakhstan but also for neighboring countries, by improving access to markets and promoting cross-border trade.

The IsDB’s involvement in the BAKAD Ring Road Project reflects its broader mission to support member countries in achieving their development goals through impactful infrastructure investments. The bank’s support for this project aligns with its strategic focus on enhancing connectivity, fostering economic resilience, and promoting sustainable development in its member countries.

The BAKAD Ring Road Project is a testament to the power of international collaboration in achieving transformative outcomes. This project is poised to become a cornerstone of Kazakhstan’s infrastructure, contributing to the country’s economic prosperity and regional influence.