Kyrgyzstan is actively seeking partners to implement its ambitious energy projects, and the Islamic Development Bank (IDB) can become one of the key players in this process. On the sidelines of the Annual Meeting of the IDB Board of Governors in Algeria, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Daniyar Amangeldiev held important talks with the bank’s President Mohammed Al-Jasser, discussing both the current state of joint initiatives and exciting prospects for future interaction.
Daniyar Amangeldiev presented the economic achievements of Kyrgyzstan, especially noting the steady growth of the national economy. Confirmation of the country’s financial stability is the improvement of its credit rating by international agencies Moody’s and S&P to the level «Stable+». These positive assessments are an important signal for international financial institutions and investors, indicating an increase in the reliability of Kyrgyzstan as a partner.
The energy sector occupied a special place in the dialogue. The successful experience of cooperation within the framework of the CASA-1000 project was cited as an example of effective partnership, creating a solid basis for future joint endeavors. The Kyrgyz side expressed deep hope that the Islamic Development Bank will become one of the pillars in the implementation of the strategically important project – construction of the Kambar-Ata HPP-1. This project is recognized as one of the most relevant and priority for the energy security and economic development of the republic.
A representative of the Cabinet of Ministers of Kyrgyzstan informed that at the current stage, financing of preparatory work for the Kambar-Ata HPP-1 is carried out at the expense of the state’s own funds. Work to update the feasibility study and develop an environmental impact assessment is being carried out in strict accordance with the approved schedule and is expected to be completed by the end of May 2025. This creates favorable conditions for attracting external investment and expertise.
During the negotiations, the possibilities of diversifying and expanding the portfolio of joint projects with the Islamic Development Bank in the Kyrgyz Republic were also touched upon. In this context, Daniyar Amangeldiev supported the initiative to create a special technical group. It is expected that this group will assist in the effective implementation of both current and future government investment projects financed by the IDB, optimizing processes and accelerating the achievement of results.
For his part, IDB President Mohammed Al-Jasser assured the Kyrgyz delegation of the bank’s continued readiness to continue to provide full support to the socio-economic development of the country. He emphasized that the Islamic Development Bank is open to considering participation in new projects that are of mutual interest and contribute to the sustainable prosperity of Kyrgyzstan.
