IDA Allocates $13.6 Million for Feasibility Study in Kambar-Ata 1
The International Development Association, a credit institution within the World Bank Group, has announced that it will provide an additional $13.6 million in funding for the Kambar-Ata HPP 1 project in Kyrgyzstan. This news was shared during a meeting of the Committee on Budget, Economic, and Fiscal Policy of the Parliament.
The financing agreement and grant agreement between the Kyrgyz Republic and the International Development Association for the “Additional financing for technical assistance for Kambar-Ata HPP 1 project” have been approved by deputies in the first reading. Of the total additional funds, $11 million will be provided as an IDA loan, while $2.6 million will be a grant. The funds will have a term of 50 years, with a grace period of 10 years and zero interest rate. A fee of 0.5 percent will be charged for reserving the funds.
MP Dastan Bekeshev commented on the loans and grant received for the Kambar-Ata HPP 1 project, mentioning that the money will be used for the development of a feasibility study. He noted that initially, a $5 million grant was received, but it was insufficient, leading to the request for an $11 million loan and a $2.6 million grant. Bekeshev also highlighted the existence of a feasibility study prepared in 2014.
The estimated cost of constructing the Kambar-Ata HPP 1 project, according to preliminary estimates by the Cabinet of Ministers of the Kyrgyz Republic, is around $3.6 billion. This additional funding from the International Development Association will help advance the development of this important hydropower project in Kyrgyzstan.
