EBRD to provide new loans and grants to Kyrgyzstan in amount of €65.9 mln

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The European Bank for Reconstruction and Development (EBRD) will provide loans and grants totaling up to €65.9 million to improve transportation, as well as electricity and water supply in Kyrgyzstan, the EBRD press service announced.

Agreements to this effect were signed by the Prime Minister of Kyrgyzstan, Akylbek Zhaparov, and EBRD President Odile Rena-Basso in London, where Zhaparov is on a working visit.

The EBRD will finance the implementation of three projects:

  • A loan of up to €44.2 million for the reconstruction of a section (Balbay Batyr - Karakol) covering a 30 km stretch of a circular road around Lake Issyk-Kul. The road is part of the Trans-Caspian International Transport Corridor. The upgraded road will enhance the transit potential and regional connectivity of the Kyrgyz Republic.
  • A loan of up to €9.2 million and a grant of €5 million, provided to the National Electric Grid of Kyrgyzstan (NESK), aimed at assisting in the acquisition of remotely controllable electricity meters in the Osh, Jalal-Abad, Issyk-Kul, and Chui regions of the Kyrgyz Republic. Funds will also be used for the restoration of low-voltage distribution lines in various parts of the country.
  • A loan of up to €3.75 million and a grant of up to $3.75 million under the Framework Water Program for Kyrgyzstan, allocated to the settlement of Bazar-Korgon in the west of the country. The project allocates funds for the modernization of water supply services. The loan provided to the local water supply enterprise will be used to implement water consumption meters, purchase specialized equipment, and construct an office building.

As of today, the EBRD has invested €911 million in Kyrgyzstan as part of the implementation of 231 projects, with a significant portion of these funds directed towards supporting private entrepreneurship.

CentralasianLIGHT.org

November 29, 2023