The Kambar-Ata HPP-1 project will receive additional technical assistance
Kyrgyzstan will receive $11 million of soft loan and $2.6 million of grant funds from the International Development Association (World Bank) to provide technical support for the Kambar-Ata HPP-1 construction project, the press service of the President of the Kyrgyz Republic reports.
The financing Agreement and the letter of agreement (grant agreement) between Kyrgyzstan and the International Development Association on the project “Additional financing for technical assistance for the Kambar-Ata HPP-1 project” has been ratified by the Parliament of the Kyrgyz Republic and signed by the President of the country.
The main objective of the project “Additional financing for Technical Assistance for the Kambar-Ata HPP-1 project” is to ensure energy security, reliable sustainable operation of the energy system, rational use of water resources, as well as increasing the generating capacities of the Kyrgyz Republic.
The International Development Association provides allocated funds for a period of 50 years. At the same time, the grace period is 10 years from the date of signing the loan and grant agreements, the interest rate is 0%. The commission for reserving funds is 0.5% (its amount is set annually by the IDA Board of Directors).
