Vecherny Bishkek (vb.kg): The head of the Management Board at EDB tells about the Bank's planned operations in Kyrgyzstan
On 30-31 July Eurasian Development Bank's (EDB) delegation headed by Dmitry Pankin, Chairman of the Management Board, visited the Kyrgyz Republic, the media service of the Bank reports.
According to it, the Chairman of the Management Board at EDB met with Prime Minister Temir Sariyev to discuss the interim results of the Bank's operations in Kyrgyzstan and outline the main directions for its future operations in the country.
In addition, the EDB delegation had meetings and talks with Minister of Transport and Communications Argynbek Malabayev and Minister of Energy and Industry Kubanychbek Turdubaeyv. The parties discussed the work of EDB and the Eurasian Fund for Stabilisation and Development (EFSD), the resources of which are managed by EDB, as well as potential joint investment projects and programmes.
It is stated that, during the visit, EDB and the Kyrgyz government signed an agreement on the provision of an investment credit from the EFSD to finance rehabilitation of the Toktogul HPP (Phase 2) for a total of US $100 million.
The EFSD funds will be used to finance physical rehabilitation of the plant's Unit 2 and 4, as well as gates and hydraulicstructures. The EFSD has five projects in Kyrgyzstan: Phase IV of the Bishkek-Osh road reconstruction; financing agricultural machinery supplies to the Kyrgyz Republic; Phase 2 of the Toktogul HPP rehabilitation; commissioning of Unit 2 at Kambarata 2 HPP; and construction of distribution infrastructure in the Kyrgyz Republic to export agricultural produce to the Customs Union. The overall value of these projects is US $285 million," EDB reports.