South Korea to provide $27 mln loan to Kyrgyzstan to expand infectious diseases hospital
Korea will provide Kyrgyzstan with a loan of USD 27 million to expand its infectious diseases hospital, the Ministry of Finance reported, Kabar reports.
On January 31, 2023, the Jogorku Kenesh approved an agreement between the Cabinet of Ministers and the Export-Import Bank of Korea.
The project is aimed at expanding the existing infectious diseases hospital, equipping it with modern medical equipment while simultaneously training medical personnel in its use, improving the quality of medical services provided and carrying out timely prevention of nosocomial infections.
Under the terms of the loan agreement, the Korean side provides a loan in Korean won in an amount not exceeding the equivalent of USD 27 million, with a repayment period of 40 years, a grace period of 10 years, an interest rate of 0.1% per annum and a service fee of 0.1% of the amount each payment.
The implementation of this project will strengthen the national healthcare system of the Kyrgyz Republic, both in terms of improving infrastructure and increasing the potential of medical staff.
The above bill is currently expected to be signed by the Kyrgyz president to further obtain a legal opinion from the Ministry of Justice and notify the Korean side from the Ministry of Finance to carry out the necessary domestic procedures for the entry into force of the above agreements.
