World Bank to allocate $52.4 million to Kyrgyzstan for landscape restoration
The World Bank will allocate $52.4 million soms for the implementation of Resilient Landscape Restoration in Kyrgyzstan project. The corresponding agreement was approved by the Committee on Budget, Economic and Fiscal Policy of the Parliament of Kyrgyzstan in the first reading.
At least $45 million is a loan from the World Bank, $5 million is a grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN) and $2.4 million is a grant from the Korea—World Bank Partnership Facility (KWPF).
According to Deputy Minister of Emergency Situations Azamat Mambetov, the funds will be used for the reconstruction of 457 kilometers of mudflow protection structures built in the last century and the construction of 26 kilometers of dams, strengthening river banks, landscaping and the purchase of equipment.
The loan is provided for 10 years with a grace period of 50 years. The loan will be interest-free for 38 years.
It is believed that the Resilient Landscape Restoration in Kyrgyzstan project will directly benefit more than 50,000 residents of Jalal-Abad, Osh, Issyk-Kul and Naryn regions.
