World Bank To Allocate $13.6 Million For Kyrgyzstan's Kambarata-1 Hydropower Project
(MENAFN- AzerNews) The World bank (WB) plans to allocate $13.6 million toKyrgyzstan as additional funding for the "Technical Support forKambarata-1 Hydropower plant (HPP)" project, Azernews reports.
According to Kyrgyzstan's Ministry of Energy, $11 million ofthis amount will be provided as an interest-free loan for 50 yearswith a 10-year grace period, and $2.6 million will be a grant fromthe Multilateral Donor Trust Fund for the fourth phase of theCentral Asia Water and energy Program (CAWEP).
The funds will be directed towards financing crucial activitiesfor preparing the Kambarata-1 HPP construction. Specifically, theproject will update the feasibility study and environmental andsocial documentation, including the development of abenefit-sharing plan for the local communities.
Additionally, a macroeconomically and commercially sustainablefinancing plan for the Kambarata-1 HPP construction will bedeveloped.
The Ministry noted that this collaboration between the Cabinetof Ministers of Kyrgyzstan and the WB aims to ensure the successfulimplementation of the Kambarata-1 HPP construction project on asustainable and profitable basis. The next steps include theconsideration of this funding allocation by the World Bank's Boardof Executive Directors in July 2024.
Once completed, the Kambarata-1 HPP will have a capacity of 1860MW and will produce 5.6 billion kWh of electricity per year estimates indicate that the dam will be 256 meters highand that the reservoir will hold more than 5.4 billion cubic metersof water.
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