World Bank facilitates investment in Kambarata HPP 1 construction
World Bank supports construction of Kambarata HPP 1 in Kyrgyzstan
Bishkek – 15:35, 15 October 2024 – The World Bank is actively supporting the government of Kyrgyzstan in finding investors for the construction of Kambarata HPP 1, one of the largest infrastructure projects in the country. The World Bank Country Manager for the Kyrgyz Republic, Hugh Riddell, shared this information.
The new strategy of the World Bank’s work with Kyrgyzstan until 2028 is focused on key areas such as water resources, agriculture, and energy. Kambarata HPP 1 is considered an important step in the development of a green economy in the region, according to Riddell.
Riddell emphasized that the Kambarata HPP 1 project is the first investment of this scale, which will enable more efficient use of water resources. However, for its successful implementation, reforms related to changing tariffs and improving communications will be necessary. Special attention will also be given to creating jobs and developing human capital, which will ensure long-term economic growth.
The Kyrgyzstan government has requested World Bank assistance in attracting investment for the project. About $20 million has already been allocated for technical support, and construction is scheduled to begin in April 2025 with a duration of about 6.5 years.
Riddell mentioned that large organizations such as the Asian Development Bank, the Asian Infrastructure Investment Bank, and the OPEC Fund have shown interest in the project. While final decisions on financing have not yet been made, all participants have expressed a desire to support the project.
“We hope that the project will be effective and profitable. One percent of the profit from energy will go towards the needs of the population,” noted Riddell, highlighting the key role played by the government of Kyrgyzstan in the implementation of the project.
