BISHKEK, Kyrgyzstan, September 4. A parliamentary committee of Kyrgyzstan has approved in the first reading a bill ratifying a financial contract with the European Investment Bank (EIB) to provide additional funding for the Central Asia – South Asia Electricity Transmission and Trade Project (CASA-1000), Trend reports via the Kyrgyz parliament.
Deputy Minister of Energy Altynbek Rysbekov presented the information, noting that the draft law aims to strengthen energy security, ensure stable operation of the power system, promote rational use of water resources, expand export potential, and increase generation capacity.
“The total amount of additional funds stands at 9 million euro, to be provided under the following conditions: maturity - 29 years; grace period - 8 years; interest rate - up to 3.6 percent,” he said.
CASA-1000 is a major regional energy initiative designed to facilitate electricity trade between Central and South Asia. The project enables Kyrgyzstan and Tajikistan to export surplus summer hydropower to Afghanistan and Pakistan, boosting regional energy cooperation and creating a sustainable revenue stream for exporting countries.
In addition, the committee reviewed and approved in the first reading the draft law “On ratification of the updated Protocol to the Agreement between Kyrgyzstan and the International Atomic Energy Agency on the application of safeguards in connection with the Treaty on the Non-Proliferation of Nuclear Weapons.”