Kyrgyzstan will receive a $11 million of preferential loan and $2.6 million of grant funds from the International Development Association – World Bank as a technical support for the Kambarata Hydroelectric Power Plant – 1 construction project, Kazinform News Agency reports.

On March 18, Kyrgyzstan ratified the Financing Agreement and Letter of Agreement (Grant Agreement) between Kyrgyzstan and the International Development Association – World Bank for the project “Additional Financing for Technical Assistance for the Kambarata HPP-1 Project.” 

The International Development Association provides the allocated funds for a period of 50 years. Grace period is 10 years from the date of signing the loan and grant agreements, and the interest rate is 0%. Committment charge is 0.5% (its amount is set annually by the IDA Board of Directors).

Earlier it was reported that the Asian Development Bank will provide $222 million to Kyrgyzstan for financing state investment projects and programs.