ASTANA – The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) will each provide $500 million to the Kyrgyz Republic for the construction of the Kambar-Ata-1 Hydropower Plant (HPP).
Photo credit: economist.kg
Energy Ministers of Kazakhstan, Kyrgyz Republic, and Uzbekistan, together with the heads of international financial institutions, discussed the project’s progress during the Global Gateway Forum in Brussels.
Following the talks, the EU signed an agreement with Kyrgyz Republic, Kazakhstan, and Uzbekistan to finance the project worth $2.4 billion, of which $1 billion will be directed to the Kyrgyz Republic, reported Kyrgyz Energy Ministry’s press service on Oct. 10.
As part of the meeting, the Kyrgyz ministry signed separate memorandums of understanding with the EIB and the EBRD, confirming their respective commitments to finance the Kambar-Ata-1 HPP project.
The Kambar-Ata-1 Hydropower Plant is a strategic regional initiative aimed at strengthening energy security, promoting sustainable development, and enhancing regional cooperation in Central Asia.
