(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, April 27. The IslamicDevelopment Bank (IsDB) is ready to consider financing theKambarata-1 hydropower plant (HPP) construction in Kyrgyzstan aspart of a consortium, said Muhammad Sulaiman Al Jasser, IsDBPresident, Trend reports.
He made the remark at the meeting with First Deputy Chairman ofthe Kyrgyz Cabinet of Ministers Adylbek Kasymaliev in Riyadh, SaudiArabia.
During the talks, IsDB president highlighted the significance ofthe Kambarata-1 HPP construction project for the entire CentralAsian region.
In turn, Kasymaliev invited IsDB's leadership to participate inthe international energy investment forum, organized by Kyrgyzstanand scheduled for early June in Vienna, Austria. This forum aims tomobilize financial resources for hydropower plant construction.
Following the meeting, Kyrgyzstan signed an agreement with theIsDB for $79 million under the project "Financing AffordableHousing According to Sharia Standards". Additionally, it wasannounced that the bank has undertaken 27 projects in Kyrgyzstan,totaling more than $500 million, with projects worth over $200million currently in progress.
To note, Adylbek Kasymaliev is currently in Riyadh for a workingvisit. During the trip, he will participate in the 49th AnnualMeeting of the Board of Governors of the Islamic Development BankGroup and will also hold a series of bilateral meetings with theleadership of financial institutions and internationalcompanies.
The Kambarata-1 HPP on the Naryn river is the largesthydroelectric project in Kyrgyzstan. This HPP, which is expected tobecome one of Central Asia's largest hydropower ventures, will havea capacity of 1,860 MW and a reservoir volume of 5.4 billion cubicmeters, with an annual electricity generation of 5.6 billionkWh.
At the International Monetary Fund (IMF) and World Bank Group(WBG) Spring Meetings, held from April 17 to 19, Kyrgyzstan'sprincipal focus was on obtaining investments for the building ofthe HPP.
MENAFN27042024000187011040ID1108146016
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.