02.11.19
Asian Development Bank will allocate $ 100 million budget for the renovation of the Uch-Kurgansk Hydroelectric Power Plant in Kyrgyzstan’s Jalal-Abad region. To this end, the Kyrgyz Government and the Asian Development Bank signed a loan and grant agreement on 02.11.19 for the renovation project of the Uch-Kurgansk HPP.
Kyrgyzstan Ministry of Finance press service reported that the total cost of the project will be around $ 160 million, according to the agreement. The Asian Development Bank allocated $ 100 million for the project. It is reported that 60 million dollars of this budget will be a loan and 40 million dollars will be a grant. The loan, the first 8 years grace period will be given for 32 years.
The Government of Kyrgyzstan also plans to borrow another $ 45 million from the Eurasian Development Bank. Kyrgyzstan is planning to contribute $ 15 million to the project.
The budget will be used to replace the electromechanical equipment and hydraulic units in the plant, reconstruction of the hydraulic structures, cleaning the plant base from siltation and strengthening the plant.
