Kyrgyzstan will receive from the International Development Association (World Bank) $11 million in a preferential loan and $2.6 million in grant funds to provide technical support for the construction project of the Kambarata HPP-1, the press service of the President of the Kyrgyz Republic reports.
The financing agreement and letter of agreement (grant agreement) between Kyrgyzstan and the International Development Association for the project «Additional funding for technical assistance for the Kambarata HPP-1 project» was ratified by the Parliament of the Kyrgyz Republic and signed by the President of the country.
The main objective of the project «Additional funding for Technical Assistance for the Kambarata HPP-1 project» is to ensure energy security, reliable sustainable operation of the energy system, rational use of water resources, as well as increasing the generating capacity of the Kyrgyz Republic.
The International Development Association provides funds for a period of 50 years. At the same time, the grace period is 10 years from the date of signing the loan and grant agreements, interest rate — 0%. Commission for reserving funds — 0.5% (its amount is set annually by the IDA board of directors).
