The EBRD is ready to finance the construction of the Kambar-Ata HPP-1

The Ministry of Energy of Kazakhstan and the European Bank for Reconstruction and Development (EBRD) discussed the prospects for joint work in the energy sector. The key topic of the meeting between Minister Yerlan Akkenzhenov and EBRD Managing Director for Central Asia Hussein Ozkhan was the bank’s participation in financing major infrastructure projects. Particular attention was paid to the construction of the Kambar-Ata HPP–1, a large-scale hydroelectric power station, which is a joint initiative of Kazakhstan, Kyrgyzstan and Uzbekistan, the press service of the ministry reports.

During the negotiations, the Kazakh side stressed that it considers the Kambar-Ata HPP-1 construction project as one of the key ones and highly appreciates the EBRD’s readiness to participate in its financing. However, as the Minister noted, the signing of the relevant intergovernmental agreement between the three participating countries remains a priority step for its further promotion. Representatives of the EBRD, in turn, confirmed their high interest in the project. The Bank expressed its readiness to provide not only financial support, but also its expertise for the analysis of the future intergovernmental document, calling the initiative to build the Kambar-Ata HPP-1 large-scale.

Following the meeting, the parties confirmed their intention to strengthen the partnership. The joint work will be aimed at developing modern energy infrastructure, ensuring water and energy security in the region and supporting sustainable economic growth in Central Asia.

Original (in Russian): ЕБРР готов финансировать строительство Камбаратинской ГЭС-1