EBRD VP Highlights Highly Successful Cooperation With Kyrgyzstan In 2023


(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, February 28. The year 2023 proved to be a highly successful for cooperation between the European Bank for Reconstruction and Development (EBRD) and Kyrgyzstan, Mark Bowman, Vice President for Policy and Partnerships at the EBRD, said, Trend reports.

He made the remark during a meeting with Akylbek Japarov, the Chairman of the Cabinet of Ministers of Kyrgyzstan. Bowman disclosed the current status and progress of joint projects in renewable energy sources, energy infrastructure recovery, and rehabilitation. He emphasized that energy remains a top priority for cooperation, as per the EBRD's perspective.

In turn, Japarov commended the EBRD's efforts in Kyrgyzstan, acknowledging that energy security and efficiency have become crucial not only for the country but also globally.

Japarov mentioned that the construction of the Kambarata-1 hydropower plant in Kyrgyzstan will significantly boost the country's electricity generation, noting that preliminary financing agreements for this project have been secured with international financial institutions.

During the meeting, the sides addressed various key areas of collaboration, including agriculture, tourism, water resources, transportation, and light industry.

The meeting concluded with the signing of a memorandum of understanding between Kyrgyzstan and the EBRD, aimed at supporting the development of renewable energy sources in the country.

In 2023, the EBRD allocated 102 million euro across 22 projects in Kyrgyzstan, marking the most substantial operational result of the bank in the country over the past five years. Sixty-seven percent of these projects were directed towards the private sector, with nearly 40 percent of investments dedicated to green initiatives.

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