BISHKEK, Kyrgyzstan, July 24. Kyrgyzstan has ratified agreements with the International Development Association (IDA) and the Islamic Development Bank (IsDB) for funding the CASA-1000 energy project, Trend reports.
President Sadyr Zhaparov signed the ratification law for the additional funding agreement with the IDA and a credit agreement with the IDB. The agreement with the IDA was signed on March 6, 2024, and the agreement with the IDB was signed on April 21, 2024.
Under the agreement with the IDA, Kyrgyzstan will receive a loan of $18.3 million at 0 percent interest annually over 50 years, including a 10-year grace period. The IDB will provide a $13 million loan at 1.5 percent interest annually over 25 years, including a 7-year grace period.
The CASA-1000 project aims to connect the power grids of Central and South Asia, linking Kyrgyzstan and Tajikistan with Afghanistan and Pakistan, and establishing mechanisms for energy trading based on international standards.
The project includes upgrading the power grid infrastructure, building new substations, and constructing a high-voltage transmission line, enabling Kyrgyzstan and Tajikistan to export excess electricity to Pakistan and Afghanistan during the summer months. The total project cost is estimated at $1.1 billion, with 456 kilometers of transmission lines to be installed in Kyrgyzstan out of a total length of 1,400 kilometers.