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Saudi Arabia ready to give Kyrgyzstan loan of $ 35 million for 25 years

Parliament members of Kyrgyzstan consider ratification of a loan agreement between Kyrgyzstan and the Saudi Fund for Development today. The document provides for reconstruction and rehabilitation of the Issyk-Kul ring road.

According to Deputy Minister of Transport and Roads Bakyt Berdaliev, the loan of $ 35 million is given for 25 years.

«Saudi Arabia gives the loan at the request of the Kyrgyz government. The agreement was signed in December 2019. The road reconstruction project was included in the National Development Strategy. The loan is given at 1 percent per annum. The warranty period is three years,» Bakyt Berdaliev told.

Deputy Dastan Bekeshev asked, if the country would be able to repay the loan and what is the amount of external debt at the moment.

Deputy Finance Minister Almaz Azimov replied that as of April 30, Kyrgyzstan’s debt was $ 3,902 billion. To date, the exact amount of debt is calculated, but preliminary it is about $ 4 billion.