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Asian Development Bank to allocate $100 mln for rehabilitation of Uch-Kurgan HES

Kyrgyzstan and the Asian Development Bank signed credit and grant agreements on project of rehabilitation of Uch-Kurgan hydroelectric station. The Ministry of Finance of Kyrgyzstan reported.

The project cost is estimated at $ 160 million. The Asian Development Bank provides $ 100 million of the sum, including $ 60 million as a loan and $ 40 million — as a grant. It is planned that Kyrgyzstan will get other $45 million from the Eurasian Development Bank. The Government will contribute $ 15 million to the project.

The Asian Development Bank provides the loan for 32 years with a grace period of eight years.

 Moreover, the interest rate on the loan will be 1 percent during the grace period and 1.5 percent — during rest of the time.

The money will be used to replace electromechanical equipment and hydraulic units, for reconstruction of hydraulic structures, cleaning the reservoir of the hydroelectric station from siltation, and also to strengthen the dam of Uch-Kurgan hydroelectric station.