During a working visit to Algeria to participate in the annual meeting of the Board of Governors of the Islamic Development Bank (IsDB), First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan, Daniyar Amangeldiev, held talks with IsDB President Dr. Muhammad Al Jasser.
During the meeting, the parties discussed the current status of joint projects and prospects for further development and expansion of cooperation.
Daniyar Amangeldiev highlighted the economic indicators of the Kyrgyz Republic, emphasizing the country’s stable economic growth and the improvement of its credit ratings by Moody’s and S&P to a «stable+» level.
He specifically praised the successful partnership with IsDB in the implementation of CASA-1000 energy project and expressed hope that the bank would become a key partner in the construction of the important Kambarata HPP-1 (hydropower plant).
Daniyar Amangeldiev noted that construction of Kambarata HPP-1 is one of the most urgent and high-priority projects for Kyrgyzstan. He mentioned that the preparatory work is currently being financed from the state’s own resources, and the update of the feasibility study and the development of an environmental impact assessment are proceeding according to schedule, with completion expected by the end of May 2025.
The parties also discussed affordable housing financing project with IsDB involvement. It was noted that in 2024, Kyrgyzstan and the IsDB signed an agreement for this project amounting to $79 million, and work is currently underway to resolve the issue of allocating a land plot for its implementation.
In response, the IsDB President assured that the bank pays close attention to the needs and priorities of the Kyrgyz Republic and is ready to continue providing comprehensive support for the country’s social and economic development. He also expressed IsDB’s willingness to explore opportunities for expanding cooperation and participating in new mutually beneficial projects.
