Kyrgyzstan should repay loan for North-South road until 2042

Until 2042, Kyrgyzstan must repay a loan for the construction of North-South road. This was announced today at a meeting of the Committee on Budget and Finances of Parliament.

It is noted that the Saudi Fund for Development allocated for this project a loan of 75 million Saudi riyals (approximately $ 20 million). It is issued at 1 percent per annum. The repayment period is 25 years, including a five-year grace period.

The total cost of the project of reconstruction of the alternative North-South road is $ 33.8 million. The government of Kyrgyzstan will pay the debt from 2023 to 2042 once in six months — on March 15 and September 15.

Officials of the Ministry of Transport and Roads believe that this will not be a big burden for the state budget.