Members of the Committee on Budget, Economic and Fiscal Policy of the Parliament of Kyrgyzstan reviewed the draft of the second phase of the agreement between Kyrgyzstan and the Saudi Fund for Development on the construction of public schools.
As the Deputy Minister of Construction, Architecture, Housing and Communal Services Talantbek Imanakun uulu reported, $30 million was previously allocated as part of the first phase, which was used to build 28 schools and 2 kindergartens.
According to him, as part of the second phase, it is planned to receive $50 million for 25 years at 1.5 percent per annum, while a grace period of five years is provided.
«The loan funds will be used to build five new schools in Bishkek and seven additional buildings for existing educational institutions. Two new schools will also be built in Chui region. The capacity of the schools will be from 150 to 1,000 places,» the deputy minister said.
The project is scheduled to begin in 2026 and be completed in 2029. Deputies approved the draft agreement.
