The World Bank approved the allocation of $52.4 mn for the implementation of the Resilient Landscape Restoration in Kyrgyzstan project. This decision was approved by the Committee on Budget, Economic and Fiscal Policy of the Parliament of Kyrgyzstan.
The funding includes:
- $45 mn as a loan from the World Bank
- $5 mn as a grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN)
- $2.4 mn as a grant from the Korea—World Bank Partnership Facility (KWPF)
Deputy Minister of Emergency Situations Azamat Mambetov stated that the funds will be utilized for the reconstruction of 457 kilometres of mudflow protection structures built in the last century, the construction of 26 kilometres of dams, strengthening river banks, landscaping, and purchase of equipment.
The loan is provided for a term of 10 years, with a grace period of 50 years. The loan will be interest-free for the first 38 years.
The Resilient Landscape Restoration in Kyrgyzstan project is expected to directly benefit more than 50,000 residents in the Jalal-Abad, Osh, Issyk-Kul, and Naryn regions.
Earlier, Daryo reported that Uzbekistan secured a $100 mn concessional loan from the World Bank for the implementation of the Innovative Social Protection System for Inclusion of Vulnerable People (INSON) Project. The initiative aims to enhance the accessibility and quality of social services for vulnerable groups within the country.
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