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    EBRD commits €65.9 mn to enhance Kyrgyz Republic’s infrastructure

    EBRD commits €65.9 mn to enhance Kyrgyz Republic’s infrastructure

    The European Bank for Reconstruction and Development (EBRD) has committed to enhancing the Kyrgyz Republic’s infrastructure by allocating a financial package worth up to €65.9 mn. This funding, comprising both sovereign loans and grants, is aimed at refurbishing the nation’s ageing infrastructure, making it more resilient to climate change.

    Photo: EBRD commits €65.9 mn to enhance Kyrgyz Republic’s infrastructure
    Source: Anton Usov

    The agreement was formalised in a ceremony graced by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov, and EBRD President Odile Renaud-Basso. The funding will be distributed across three key projects:

    Issyk-Kul Lake Ring Road reconstruction: A sovereign loan of up to €44.2 mn will be used for the reconstruction of a 30 km section (Balbay Batyr-Karakol) of the Issyk-Kul Lake Ring Road. This project, supported by the Türkiye-EBRD Cooperation Fund, is part of the Trans-Caspian Corridor and aims to enhance the Kyrgyz Republic’s transit potential and regional connectivity. The upgraded road is expected to reduce annual CO2 emissions by 16,000 tonnes by 2050 and improve road safety and maintenance efficiency.

    Photo: EBRD commits €65.9 mn to enhance Kyrgyz Republic’s infrastructure
    Source: Anton Usov

    National Electric Grid of Kyrgyzstan (NEGK) upgrade: A sovereign loan of up to €9.2 mn, along with an investment grant of €5 mn, will be provided to NEGK. The funds will be used to install advanced remotely controlled electric meters in the Chuy, Jalal-Abad, Osh, and Issyk-Kul regions and to rehabilitate low-voltage (0.4 kV) distribution lines nationwide. This project will enhance NEGK’s operational efficiency and reduce annual CO2 emissions by over 17,000 tonnes.

    Bazar-Korgon water supply services modernisation: A sovereign loan of up to €3.75 mn and an investment grant of up to €3.75 mn will be allocated to the town of Bazar-Korgon under the Kyrgyz Water Resilience Framework. The funds will be used to modernise water supply services, introduce water metering, procure specialised equipment, and construct an office building.

    Photo: EBRD commits €65.9 mn to enhance Kyrgyz Republic’s infrastructure
    Source: Anton Usov

    These initiatives underscore the EBRD’s commitment to improving the quality of life in the Kyrgyz Republic through sustainable and climate-resilient infrastructure development.

     

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    29.11.2023, 09:36   Comments (0)   1434
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