BISHKEK, Kyrgyzstan, December 15. The Eurasian Development Bank (EDB) has allocated $92 million towards projects in Kyrgyzstan since the beginning of 2023, said Denis Ilin, Managing Director of the EDB during a press conference held in Almaty, Kazakhstan, Trend reports.
He emphasized that 2023 had been a breakthrough year for cooperation between the EDB and Kyrgyzstan, with an anticipated total allocation reaching $95-97 million by year-end. Ilin noted that these funds were directed to two key projects: the construction of the Kulanak hydropower station (HPS) and the modernization of the Kant cement plant.
"The Kulanak (HPS) project will reduce the domestic energy shortfall by 18%, providing significant capacity to the country. Furthermore, this project will expand irrigated field area by 55%. Despite the ambitious two-to-three-year completion deadline, the project's progress appears to be promising. In conjunction with the Russian-Kyrgyz Development Fund, the EDB has allocated $44 million for the development of the hydroelectric project," remarked managing director.
He further highlighted the allocation of $48 million for the second project, the modernization of equipment at the Kant cement plant in the Chuy region.
"This plant is extremely important to the city of Kant, the region, and the country as a whole. Because of the extensive building operations associated with hydropower facilities, cement and concrete are in great demand. Those who are familiar with cement facilities, on the other hand, are aware of the substantial air pollution they create. In addition to its economic benefits, our project seeks to significantly cut emissions at the Kant plant, thereby improving air quality in the city and surrounding," added Ilin.
