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    Kyrgyzstan

    Kyrgyzstan and EBRD explore collaborative projects and future prospects

    Kyrgyzstan and EBRD explore collaborative projects and future prospects

    Akylbek Zhaparov, the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, recently convened with Mark Bowman, the Vice-President of the European Bank for Reconstruction and Development (EBRD), to explore ongoing collaborative projects and future prospects, the Cabinet of Ministers of the Kyrgyz Republic reported.

    Photo: Meeting highlights priority sectors: hydropower, agriculture, tourism, and more
    Source: Cabinet of Ministers of the Kyrgyz Republic

     

    The meeting, held to delve into priority areas of cooperation between Kyrgyzstan and the EBRD, covered a wide array of sectors including hydropower, agriculture, tourism, water resources, transport, and light industry. However, it was the discourse on energy that particularly commanded attention.

    Zhaparov emphasized the growing significance of energy security and efficiency on both local and global scales. In this light, he underscored the importance of projects like the Kambar-Ata-1 hydroelectric power station, noting its potential to bolster electricity generation substantially. Preliminary agreements for financing this project with international financial institutions have already been made, he disclosed.

    Photo: Akylbek Zhaparov, the Chairman of the Cabinet of Ministers of the Kyrgyz Republic
    Source: Cabinet of Ministers of the Kyrgyz Republic

     

    The discussion extended to initiatives in irrigation and agriculture, with Zhaparov highlighting the importance of investments in these sectors to modernize infrastructure and enhance productivity.

    Mark Bowman reciprocated by expressing the EBRD's satisfaction with the fruitful cooperation witnessed in 2023, citing it as a particularly successful year for their engagement with Kyrgyzstan. He reaffirmed the EBRD's commitment to supporting mutually beneficial projects and noted energy as a key focus area.

    Photo: Mark Bowman, the Vice-President of the European Bank for Reconstruction and Development (EBRD)
    Source: Cabinet of Ministers of the Kyrgyz Republic

    In a symbolic exchange, Zhaparov, invoking an Eastern proverb, described the evolution of partnerships from acquaintances to friends and then relatives, alluding to the growing camaraderie between the EBRD and Kyrgyzstan. Bowman responded warmly, expressing optimism for further collaboration and the deepening of their ties.

    The culmination of the meeting saw the signing of a Memorandum of Understanding between Kyrgyzstan and the EBRD, signaling a commitment to bolstering renewable energy development in the country.

    Photo: Memorandum of Understanding signed for renewable energy development
    Source: Cabinet of Ministers of the Kyrgyz Republic

     

    In 2023 alone, the EBRD injected €102mn into 22 projects within the Kyrgyz Republic, marking its most substantial operational achievement in the nation over the past five years. Approximately 67% of these projects were geared towards the private sector, while nearly 40% of the investments were allocated to environmentally friendly initiatives.

    Cumulatively, the EBRD has contributed €960mn to the Kyrgyz Republic through 238 projects to date, with a portion of these funds directed towards fostering private entrepreneurship within the country.

     

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    01.03.2024, 12:00   Comments (0)   1815
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