Energy Ministry takes $80.2 million loan for renewable energy development
The Ministry of Energy of Kyrgyzstan takes an $80.2 million loan for the development of renewable energy in Kyrgyzstan. The Committee on Budget, Economic and Fiscal Policy of the Parliament considered and approved the relevant bill in the first reading.
Deputy Energy Minister Taalaaibek Baigaziev said that the project «Development of Renewable Energy in the Kyrgyz Republic» envisages raising $80.2 million from the International Development Association, of which $67.7 million is an IDA loan, $10 million is a loan from the Green Climate Fund (GCF) and $2.5 million is a grant from the GCF.
Under the agreement, the official said, hydroelectric plants will be rehabilitated and new hydroelectric plants will be built for $43.2 million. The funds will also be spent on renewable energy development, modernization and strengthening of related infrastructure ($36.5 million). At least $1.5 million has been budgeted for institutional strengthening and support during project implementation.
