The EDB to finance the rehabilitation of the Bishkek CHPP
Bishkek, 22 May 2024. On 21 May, the Eurasian Development Bank (EDB) and Electric Stations signed a technical assistance agreement for the purchase of equipment for the Bishkek combined heat and power plant (CHPP). This project, financed by the EDB Technical Assistance Fund (TAF), aims to address the consequences of an accident that occurred at the plant on 2 February 2024.
The project is expected to ensure reliable and uninterrupted electricity, heat and hot water supply to city residents affected by the incident.
The agreement provides for the purchase of necessary equipment, including low-voltage switchgear to prevent overloads and short circuits in the grids.
The total project funding approximates US $500,000 and will be provided as a non-repayable grant.
“This project is of strategic importance as the Bishkek CHPP plays a key role in the lives of city residents, accounting for 14% of the country’s total electricity generation and providing heat to almost two-thirds of the capital. We aim to both restore the energy infrastructure and enable the future development and modernisation of the city’s energy system,” said Denis Ilin, EDB Senior Managing Director.
The technical assistance project to rehabilitate the Bishkek CHPP is intended to provide timely responses to Kyrgyzstan’s current needs and development challenges and aligns with the EDB 2022–2026 Country Strategy for the Kyrgyz Republic and the Sustainable Development Goals.
The EDB is currently financing several major investment initiatives in the country, including the construction of the 100-MW Kulanak HPP and a state-of-the-art clinker burning line at the Kant Cement Plant.
Additionally, the Bank is considering several projects in utilities, renewable energy and infrastructure.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB Technical Assistance Fund (TAF) is a special fund helping to create enabling conditions for investment and development projects in the Bank’s member countries. The Fund operates to enhance the Bank’s ability to finance investment projects that are in line with its mission. The TAF supports potential borrowers at the project preparation stage as well as national governments and organisations whose projects promote the institutional environment, economic development and growth. The Fund is financed from the Bank’s net profit and donor funds.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6147