First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Daniyar Amangeldiev, met with President of the Islamic Development Bank (IsDB), Muhammad Al-Jasser, during his working visit to Algeria to attend the Annual Meeting of the IsDB Board of Governors.
The meeting focused on reviewing the current implementation of joint projects and identifying prospects for expanding cooperation. Both sides emphasized the importance of strengthening their partnership across key sectors, particularly energy and infrastructure.
Amangeldiev outlined Kyrgyzstan’s recent economic achievements, including steady growth and improved credit ratings by Moody’s and S&P to a “Stable+” level.
He also highlighted the successful collaboration with the IsDB on the CASA-1000 energy project and expressed interest in expanding cooperation on the construction of the Kambarata Hydropower Plant-1 (HPP-1), one of the country’s top priorities.
Preparatory work for Kambarata HPP-1 is being financed by national funds, with feasibility and environmental impact studies scheduled for completion by the end of May 2025. The project is seen as critical to Kyrgyzstan’s long-term energy and economic goals.
The sides discussed creating a technical group to support the effective implementation of both current and upcoming IsDB-financed public investment projects in Kyrgyzstan. The importance of maintaining momentum on existing initiatives and identifying new areas for partnership was underlined.
Among the new initiatives discussed was the $79mn affordable housing project, which was formalized in a 2024 agreement between the Kyrgyz government and the IsDB. Efforts are ongoing to secure a suitable land plot to begin implementation.
The IsDB reaffirmed its readiness to support Kyrgyzstan’s socio-economic development and expressed interest in expanding cooperation through new projects that align with the country’s strategic priorities.
