Kyrgyzstan, IDA Ratify Financing Agreement
(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, February 6. The agreement
on financing between Kyrgyzstan and the International Development
Association (IDA) has been ratified, Trend reports.
According to the president's press service, President of
Kyrgyzstan Sadyr Zhaparov signed the law“On ratification of the
Agreement between the Kyrgyz Republic and the International
Development Association (IDA) on financing (Additional Financing
for the Heating Improvement Project)," which was initially signed
on September 8, 2023, in Bishkek. This law was passed by the
Parliament of Kyrgyzstan on December 27, 2023.
The agreement aimed to attract IDA credit funds amounting to
$6.9 million as additional financing for the Heating Improvement
Project in Kyrgyzstan to cover the shortfall in funds for the
reconstruction of the main 'East' network in Bishkek.
The credit funds, totaling $6.9 million, are provided at an
annual interest rate of 0 percent for 50 years, including a grace
period of 10 years.
Since the funds attracted will be refinanced to the branch of
the "Electric Stations" company - "Bishkekteploset," the
implementation of the agreement will not lead to additional
financial expenditures from the republican budget of
Kyrgyzstan.
MENAFN07022024000187011040ID1107820267
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.