The Road to the SDGs

ACHIEVEMENTS X The signing of the financing documents took place at Nur Sultan, Kazakhstan in February 2020, with the financial close reached in August 2020 despite the limitations caused by the ongoing COVID-19 pandemic. X BAKAD has a 20-year concession awarded by the Republic of Kazakhstan to a joint consortium of Turkish and Korean companies for financing, construction, operation and maintenance of the project. X The concession for the project was awarded to the project sponsors, Alsim Alarko and Makyol Insaat from Turkey and SK Engineering and Construction (SK) and Korean Expressway Corporation from Korea. X The ring road will have four lanes in the first and last sections, with a length of 9 km and six lanes in all other sections, with a total length of 57 km. It will include 21 bridges, 19 viaducts and other elevated structures. X The BAKAD project will create employment opportunities for the local population over several years. X The BAKAD ring road is the first infrastructure concession project to be executed at state level, both in Kazakhstan and in Central Asia. X The presence of international advisors and lawyers, and the open, international competitive process made this project a unique case, one of a kind for the entire region. INVESTMENT X IsDB will provide a US$ 100 million Shariah-compliant instalment sale financing facility to support the project. X IsDB’s funding is part of a total financing package of US$ 585 million co-financed by the European Bank for Reconstruction and Development and the Eurasian Development Bank. T H E R I N G R O A D P R O J E C T Helping Kazakhstan to achieve its aspiration to join the ranks of the 30 most developed countries of the world I N V E S T M E N T IsDB will provide a US$100 million Shariah-compliant Instalment Sale financing facility to support the project [ 47 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S