BISHKEK, Kyrgyzstan, July 19. President of Kyrgyzstan Sadyr Zhaparov has signed a law ratifying a loan and grant agreements with the European Bank for Reconstruction and Development (EBRD) for the rehabilitation of water supply systems in Bazar-Korgon city, Trend reports.
According to the official website of the president, the agreements were signed on November 28, 2023, in London and were approved by the Kyrgyz parliament on June 26, 2024.
The loan agreement for the Bazar-Korgon Water Sub-project includes a 3.745 million euro loan from the EBRD, with a 15-year term and a 4-year grace period. The interest rate is 1 percent per annum, and 6-month Euribor interest rate.
Under the grant agreement, 4.795 million euro will be allocated to Kyrgyzstan from the EBRD Shareholder's Special Fund. The total project cost is estimated at 8.54 million euro.
The initiative aims to upgrade the drinking water supply system, implement water metering, and modernize equipment for operation and maintenance. The investment is expected to significantly improve access to clean drinking water, reduce water losses, and enhance climate resilience in the city of Bazar-Korgon and neighbouring settlements of Akman and Beshik-Jon.