World Bank plans to allocate $13.6 mln for technical support at Kambarata HPP-1
The World Bank of the Kyrgyz Republic plans to allocate $13.6 million to Kyrgyzstan as additional financing for the project “Technical support for Kambarata HPP-1,” the press service of the Ministry of Energy of the Kyrgyz Republic reported, Kabar reports.
Of this, 11 million will be in the form of an interest-free loan for 50 years with a ten-year deferred payment, and 2.6 million will be a grant from the multi-donor trust fund of the 4th phase of the Central Asian Water and Energy Program (CAWEP).
The project funds will be used to finance the most important activities for the preparation of the construction project of Kambarata HPP-1. This will include updating the project's feasibility study, environmental and social documents, including the development of a benefit-sharing plan for communities living in the area. Also, a macroeconomically and commercially sustainable plan for financing the construction project of Kambarata HPP-1 will be developed, the report said.
It is noted that this cooperation between the Cabinet of Ministers of the Kyrgyz Republic and the World Bank is aimed at preparing the successful implementation of the Kambarata HPP-1 construction project on a sustainable and profitable basis. Further steps include consideration of the allocation of this funding by the WB Board of Executive Directors in July 2024.
