Kazakhstan May Use Toll Road Revenue to Repay Highway Construction Loans

Part of the money collected from toll roads in Kazakhstan may be used to repair free highways and repay state loans taken out for road construction, Deputy Finance Minister Dauren Kenbeil said in the Mazhilis, Orda.kz reports.

According to Kenbeil, the government plans to direct part of the income from toll roads toward servicing loans attracted for the construction and reconstruction of highways.

The roads are operating, they are paid and generate revenue. Therefore, we want to direct part of these funds toward servicing loans. The government will remain responsible for repayment itself, while toll roads will help cover the servicing costs,the deputy minister said.

He added that the state plans to expand the list of areas where toll road revenue can be spent.

The authorities are currently considering amendments to the law on highways. They would allow money from toll roads to be used not only for maintaining the toll sections themselves, but also for repaying loans attracted by the state for the construction, reconstruction and repair of roads. In addition, these funds could be directed toward the construction, repair and maintenance of other republican and international highways that are not toll roads,Kenbeil said.

He also noted that the government has already approved the amendments, and they will soon be submitted to the Senate.

Original author: Alina Elgeldina

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