Asian Development Bank to fund construction of Kambarata HPP 1
Kyrgyzstan’s Chairman of the Cabinet of Ministers, Akylbek Japarov, recently met with the President of the Asian Development Bank, Masatsugu Asakawa, in Washington, USA. The meeting focused on the development of bilateral relations between Kyrgyzstan and ADB, with a special emphasis on the progress of ongoing projects financed by ADB.
One key topic of discussion was ADB’s involvement in financing the construction of Kambarata HPP 1, a large-scale project that is expected to have a significant impact on the energy security of Central Asia. Japarov outlined the advantages of the project, the proposed financing model, and other important details for ADB’s participation.
Asakawa confirmed ADB’s willingness to support the Kambarata HPP 1 project and other initiatives that promote sustainable development in the energy sector and infrastructure in the region. The extent of financial support and instruments will be determined by the financial model of the construction project.
Following the meeting, Japarov invited Asakawa to participate in an investment energy forum in Vienna in June 2024, dedicated to the Kambarata HPP 1 project. The forum aims to bring together investors from around the world to make strategic decisions and statements about the construction project.
Asakawa agreed to attend the event to engage in detailed discussions. Additionally, he will visit Kyrgyzstan in November to commemorate the 30th anniversary of cooperation between ADB and the republic. During the visit, Asakawa will learn more about ADB-funded projects in Kyrgyzstan and participate in high-level meetings with government officials.
The collaboration between Kyrgyzstan and ADB continues to strengthen, with a focus on sustainable development and infrastructure projects that benefit the country and the region as a whole.
