EDB ready to allocate up to $500 million for construction of Kambarata HPP 1
The Eurasian Development Bank (EDB) is ready to allocate up to $500 million for the construction of Kambarata HPP 1 in Kyrgyzstan. The Chairman of the Bank’s Management Board Nikolay Podguzov said at a press conference in Almaty.
As part of the partnership with the World Bank, which is updating the feasibility study (FS) for the project, EDB offered financing for technical assistance to update the FS and further participation in the project. After the updating is complete, the cost of construction of the HPP is projected to be from $3 to $4 billion.
The Kambarata HPP 1 project is an important part of the energy infrastructure of Kyrgyzstan, and its implementation is expected to provide a significant contribution to the development of the country’s energy sector.
In early November, President Sadyr Japarov called on members of the Organization of Turkic States to join the project on construction of Kambarata HPP 1.
