(MENAFN- Trend News Agency ) Baku, Azerbaijan, May 26
By Elena Kosolapova – Trend:
The European Bank for Reconstruction and Development and Kyrgyzstan's Manas International Airport, the main air gateway in Kyrgyzstan, signed loan and grant agreements, the bank said in a message.
The airport operating company, MIA (International Airport Manas), will receive a loan of $4.7 million and an investment grant of $500,000 to address the growing demand for good quality airport services in Kyrgyzstan, and will assist the installation of a ventilation and heating system, which complies with international best practice and energy efficiency standards.
Manas, the main airport in Kyrgyzstan, serves the capital Bishkek and is used by some international airlines as a transit airport.
The project will also be the first time in the Kyrgyzstan that a majority state-owned enterprise borrows funds without a sovereign guarantee.
In addition, the EBRD will provide technical assistance to the airport to improve financial management and efficiency of operations, as well as energy efficiency standards.
To date, the EBRD has invested about $770 million in various sectors of Kyrgyz economy, with projects in infrastructure accounting for a third of the total investment.
Follow the author on Twitter: @E_Kosolapova
MENAFN2605201701870000ID1095512809
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.