According to the presented report, this ratification is necessary to complete internal procedures so that the agreement can come into force.
What the agreement includes
As reported by Deputy Minister of Construction Talantbek Imanakun uulu, the project involves attracting 187,500,000 Saudi riyals, which amounts to 50 million US dollars. The loan will be provided for a period of 25 years with a grace period of 5 years at an annual interest rate of 1.5%. Debt repayment will be made twice a year.
According to the deputy minister, the loan funds are planned to be used for:
- the construction of 5 new schools;
- the construction of 7 additional educational buildings in Bishkek;
- the construction of 2 schools in the Chuy region.
Each of the new buildings will accommodate between 150 to 1000 students.
Imanakun uulu added that the project is scheduled to start in 2026 and be completed by 2029, with two years allocated for construction and one year for the warranty period.
The main goal of this project is to ensure equal access to quality education and improve social infrastructure through the construction of public schools, he noted.
According to the provided information, the first phase of the project has already been successfully completed: 30 schools have been built across the country, providing 8,060 student places, at a cost of 30 million US dollars.
