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EDB to allocate $537,500 for purchase of equipment for Bishkek HPP

A meeting of the Chairman of the Management Board of the Eurasian Development Bank (EDB) Nikolai Podguzov with the Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov took place in Bishkek. The bank’s press service reported.

During the meeting, Nikolai Podguzov noted that in 2023 EDB provided $92 million for new investment projects in Kyrgyzstan, a record high since the beginning of its operations in the country.

In 2024, the bank will continue to focus on intensifying project activities in the Kyrgyz Republic. Nikolai Podguzov emphasized the bank’s support for digitalization initiatives. These include a project to establish a system of electronic vehicle passports and the «Work in the EAEU» mobile app. This app provides access to government and commercial services, facilitates obtaining necessary documents, offers digital services in destination countries and contains information on vacancies in EAEU countries. The app was first launched in the Kyrgyz Republic and is now also available in Russia and Armenia.

The meeting resulted in the signing of the following important documents:

  • A technical assistance agreement for the purchase of equipment for the Bishkek HPP.
  • An agreement to support a PPP project to construct and maintain a bypass road around Uzgen.

The first project, funded by the Technical Assistance Fund (TAF), aims to reconstruct the heat and power plant to ensure reliable and uninterrupted generation of electricity and heat, preventing potential energy crises. The initiative includes the purchase and installation of plant equipment. The total project value is up to $537,500.

The second project aims to develop the road sector and improve connectivity of Osh region, ensuring high road safety and improving the environmental situation in Uzgen, including through new information technologies for toll road management.

Akylbek Japarov expressed readiness for mutually beneficial cooperation with the EDB, outlining his expectations that, under the bank’s new strategy until 2026, the EDB will seek to implement larger projects in renewable energy, transport infrastructure using public-private partnership (PPP) mechanisms and support to the private sector by providing soft-term funding.