Kyrgyzstan Significantly Increases Funding For Its Energy Se...| MENAFN.COM

Thursday, 09 February 2023 06:46 GMT

Kyrgyzstan Significantly Increases Funding For Its Energy Sector


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, November 30. Kyrgyzstan has significantly increased funding for the country's energy sector in the first 10 months of this year,trend reports with reference to the Ministry of Finance of Kyrgyzstan.

During the reporting period, a total of 12.6 billion soms ($149.2 million) were allocated to the energy industry of Kyrgyzstan, which is 6.2 billion soms ($73.4 million) more compared to the same period of last year.

According to the forecasts of the ministry, by the end of 2022, the amount allocated for the development of energy and energy security in Kyrgyzstan will reach over 15.6 billion soms ($184.7 million).

Earlier on November 16, it was announced that Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov signed a document to establish a Green Energy Fund.

The Green Energy Fund will be a public institution established to direct funds to finance the design, maintenance, subsidy, repair, reconstruction, construction and development of green energy infrastructure in Kyrgyzstan.

As of November 24, 2022, the official exchange rate set by the National Bank of Kyrgyzstan is KGS 84.43/1 USD.

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