Asian Development Bank approves USD56M in funding for Kyrgyzstan
Date
6/24/2024 5:33:51 AM
(MENAFN) The Asian Development bank (ADB) has approved USD56 million in funding for Kyrgyzstan aimed at improving wastewater management and boosting sustainable tourism in the Issyk-Kul region, renowned for its natural beauty and tourist attractions.
The funding includes a USD25 million concessional loan and a USD31 million grant from the Asian Development Fund (ADF), which supports ADB's poorest and most vulnerable member countries.
One of the focal points of the project is the enhancement of wastewater facilities in Cholpon-Ata, a popular resort town situated on the shores of Issyk-Kul Lake. Despite its tourist appeal, Cholpon-Ata faces challenges with an aging wastewater network. The project plans to establish a new wastewater treatment plant, upgrade pumping stations, and develop tourism infrastructure, including a museum, aimed at preserving the environment and enhancing visitor experiences.
In addition to infrastructure improvements, the ADB initiative will assist local authorities in formulating a climate-resilient tourism master plan for Cholpon-Ata. This strategic planning aims to ensure that tourism development in the region aligns with sustainable practices, mitigates environmental impacts, and enhances resilience to climate change.
The ADB's investment underscores its commitment to supporting Kyrgyzstan's efforts in sustainable development and tourism sector growth. By addressing critical infrastructure needs and promoting environmental sustainability, the project seeks to bolster economic opportunities and improve livelihoods in the Issyk-Kul region while preserving its natural heritage for future generations.
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