The Kambar-Ata HPP-1 project has received financial support from the European Union
In Brussels, on the sidelines of the Global Gateway Forum, key agreements were reached on financing the Kambar-Ata HPP-1 construction project. Within the framework of the event, the Minister of Energy of Kyrgyzstan Taalaibek Ibraev held a number of meetings with representatives of international financial organizations, as well as with the Ministers of Energy of Kazakhstan and Uzbekistan.
According to the press service of the Ministry of Energy of the Kyrgyz Republic, during the negotiations, the European Union expressed support for the implementation of a major hydropower project in Central Asia. It was agreed to allocate $ 2.4 billion for Kyrgyzstan, Kazakhstan and Uzbekistan for the construction of the station. The relevant documents were signed between representatives of the three countries and the European side.
Financing totaling up to $ 1 billion was reserved for Kyrgyzstan, which was secured by the signing of two memoranda. The first document, a Memorandum of Understanding on financing the Kambar–Ata HPP–1 project, was signed between the Ministry of Energy of Kyrgyzstan and the European Investment Bank. It was signed by Minister Taalaibek Ibrayev and CEO of the bank Andrew McDowell. The agreed amount of financing under this line is up to $500 million.
A similar memorandum was signed with the European Bank for Reconstruction and Development. The agreement, which also provides for the possibility of financing in the amount of up to $ 500 million, was signed by Taalaibek Ibrayev and EBRD Regional Director Hussein Ozkhan. The meeting was held with the participation of the President of the bank Odile Renaud–Basso.
The Global Gateway Forum, held in the capital of Belgium, brought together high-ranking representatives of government agencies, business circles and international financial institutions. The main purpose of the event is the development of international economic cooperation and partnership in key infrastructure projects.
Original (in Russian): Проект Камбаратинской ГЭС-1 получил финансовую поддержку Евросоюза
