IDB may become a key partner of Kyrgyzstan in Kambar-Ata HPP-1
Kyrgyzstan is actively looking for partners to implement its ambitious energy projects, and the Islamic Development Bank (IDB) may become one of the key players in this process. On the sidelines of the Annual Meeting of the IDB Board of Governors in Algiers, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Daniyar Amangeldiev held important talks with the bank’s President Mohammed Al-Jasser, discussing both the current state of joint initiatives and exciting prospects for future cooperation.
Daniyar Amangeldiyev presented the economic achievements of Kyrgyzstan, emphasizing the steady growth of the national economy. Confirmation of the country’s financial stability is the improvement of its credit rating by international agencies Moody’s and S&P to the level of “Stable+”. These positive assessments are an important signal for international financial institutions and investors, indicating an increase in the reliability of Kyrgyzstan as a partner.
The energy sector has taken a special place in the dialogue. The successful experience of cooperation within the CASA-1000 project was cited as an example of effective partnership, creating a solid foundation for future joint ventures. The Kyrgyz side expressed deep hope that the Islamic Development Bank will become one of the pillars in the implementation of a strategically important project – the construction of the Kambar-Ata HPP-1. This project is recognized as one of the most relevant and priority for the energy security and economic development of the republic.
The representative of the Cabinet of Ministers of Kyrgyzstan informed that at the current stage, the financing of preparatory work on the Kambar-Ata HPP-1 is carried out at the expense of the state’s own funds. The work on updating the feasibility study and developing an environmental impact assessment is being carried out in strict accordance with the approved schedule and is expected to be completed by the end of May 2025. This creates favorable conditions for attracting external investment and expertise.
During the negotiations, the possibilities of diversifying and expanding the portfolio of joint projects with the Islamic Development Bank in the Kyrgyz Republic were also touched upon. In this context, Daniyar Amangeldiyev supported the initiative to create a special technical group. It is assumed that this group will assist in the effective implementation of both current and prospective public investment projects financed by the IDB, optimizing processes and accelerating the achievement of results.
For his part, IDB President Mohammed Al-Jasser assured the Kyrgyz delegation of the bank’s continued readiness to continue providing comprehensive support to the socio-economic development of the country. He stressed that the Islamic Development Bank is open to consideration of participation in new projects that are of mutual interest and contribute to the sustainable prosperity of Kyrgyzstan.
