The Eurasian Development Bank to Invest in Kambar-Ata HPP

According to the EDB Board Chairman Nikolay Podguzov, the bank plans to invest in Kambar-Ata HPP.

The bank is ready to assist the project as part of efforts to develop Central Asia’s water and energy infrastructure. The EDB’s funding commitments for managing energy and water resources in the region are approaching $1 billion.

Podguzov referred to the Kambar-Ata HPP as the largest investment project in Kyrgyzstan and an example of interstate cooperation in the energy sector. Previously, Kyrgyzstan, Uzbekistan and Kazakhstan had agreed to collaborate on the construction and operation of the power plant, which is estimated to cost $4 billion.

The EDB plans to boost investments in Kyrgyzstan’s energy sector. The bank is currently funding the refurbishment of the Bishkek Combined Heat and Power (CHP) plant and the construction of the Kulanak Hydropower Plant (HPP) on the Naryn River. It is also involved in elaborating technical and economic parameters for small hydroelectric projects.

Kursiv Uzbekistan also reports that the Asian Development Bank (ADB) has committed to allocating $300 million to improve banking services for small businesses in Uzbekistan.