Kyrgyzstan intends to take a loan from China for the construction of China — Kyrgyzstan — Uzbekistan railway. Azamat Sakiev, General Director of Kyrgyz Temir Zholu state enterprise, announced at a meeting of the Committee on Transport, Communications, Architecture and Construction of the Parliament of Kyrgyzstan.
He noted that a feasibility study for the project has already been developed. The amount of the agreement is $4,700 billion.
«According to the agreement, 51 percent of the costs will be covered by the PRC, and 24.5 percent will be covered by the Kyrgyz and Uzbek sides, respectively,» Azamat Sakiev said.
«Where’s the money? Where will we find $1 billion?» deputy Baktybek Sydykov asked.
Azamat Sakiev replied that the Kyrgyz Republic has intentions to take a loan from Chinese banks.
The director of Kyrgyz Temir Zholu state enterprise clarified that half of the total cost of the project — $2,350 billion — is provided by the Chinese side in the form of a loan for the joint venture.
The remaining $2,350 billion must be covered by the parties at their own expense. As a result, Kyrgyzstan’s share will be $783 million.
The office for coordinating the construction of China — Kyrgyzstan — Uzbekistan railway was opened in Bishkek in January 2023. It coordinates joint measures to speed up construction work. The Design and Survey Institute of China Railway Construction Corporation is developing a feasibility study for the project.
Previously, President Sadyr Japarov reported that construction would cost from $3 to $5 billion.
