(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, November 16. An agreement between Kyrgyzstan and the World Bank (WB) has been signed for the provision of technical assistance to update the feasibility study of the Kambarata-1 Hydropower Plant (HPP) construction, Trend reports.

The document was signed by Kyrgyzstan's Minister of Finance, Almaz Baketaev, and the WB Country Manager for Kyrgyzstan, Naveed Hassan Naqvi. The assistance funding will total $5 million.

The project aims to support the implementation of the Kambarata-1 HPP by updating and refining the existing technical and economic justifications for the project. Additionally, during the meeting, discussions were held regarding ongoing energy projects as well as future steps for implementing new potential investment projects.

On October 31, the WB announced that the funding for this project is facilitated through the International Development Association (IDA) under highly favorable terms. Of the total funding, $3 million is a zero-interest loan, with repayments stretched over 50 years and a 10-year grace period. Moreover, $2 million is allocated as a grant from a fund supported by multiple donors, which does not require repayment.

The WB anticipates that the Kambarata-1 HPP will be among the most effective endeavors to increase the availability of clean energy, not only in Kyrgyzstan but also across the wider Central Asia region. This project holds the potential to address the country's energy security concerns and generate substantial income through energy exports.

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