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Asia-Europe land route to cost $18 billion |
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Wednesday, 26 September 2007 |
 Plans are moving ahead to build
a rail and road link from Asia, through Mongolia into Russia and on
to Europe.
The project, expected to be
completed in 2018, is expected to cost at least $18 billion. Much of
this money will come from individual countries as well as the Asian
Development Bank and other corporate financiers, the European Bank for
Reconstruction and Development, the Islamic Development Bank, the International
Monetary Fund, the United Nations Development Program, and the World
Bank.
The route, which will open
goods to direct transport between Europe and Asia will run through Mongolia,
Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Tajikistan,
and Uzbekistan. The southern most corridor will also extend to Turkey.
The participating countries
are hoping to approve the plan as early as this November.
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