Deputies of the Parliament of Kyrgyzstan approved the draft law on ratification of the World Bank loan for the Ministry of Energy and Industry of Kyrgyzstan, the Akchabar.kg portal reports.
The draft law “On ratification of the Financing Agreement between the Kyrgyz Republic and the International Development Association (World Bank) on the project “Modernization and sustainable development of the electric power sector”, signed on October 5, 2022 in Bishkek” was considered in the second reading.
The document provides for financing the energy sector of Kyrgyzstan in the amount of $50 million. Of these, $25 million is a grant, the rest is a loan for a period of 38 years with a grace period of six years. The interest for the use of credit funds is 0.75%, Minister of Energy of Kyrgyzstan Taalaibek Ibraev explained .
These funds are planned to be used for the rehabilitation of distribution networks, transformer substations, as well as the introduction of smart meters and the reform and modernization of the energy sector. In particular, 600,000 smart meters and 1,410 transformers will be purchased, as well as 350 kilometers of self-insulating wire.
CentralasianLIGHT.org
February 1, 2023