This year, several significant projects are being implemented in Kyrgyzstan with the participation of the EDB, and the bank expresses its readiness to invest in new large infrastructure initiatives, offering attractive conditions for potential deals.
Focus on Kyrgyzstan, Tajikistan, and Armenia
The Chairman of the EDB Management Board, Nikolai Podguzov, reported that in 2023 the bank signed agreements to finance 21 projects in shareholder countries, with a total investment volume exceeding $2.6 billion.According to him, the main goal this year was to strengthen contributions to the development of key areas for each participating country. Priority sectors include infrastructure, green energy, agronomy, digitalization, and improving economic competitiveness. These projects are being implemented in Armenia, Kyrgyzstan, and Tajikistan.
The investment portfolio in these countries has increased to $659 million, which is 50% more than last year.The EDB strategy also emphasizes the importance of achieving sustainable development goals, with at least 25% of projects expected to align with these goals by 2026.
Deputy Chairman of the Management Board Ruslan Dalenov highlighted several projects being implemented in Kyrgyzstan with the support of the EDB:
- Construction of the Kulanak Hydropower Plant with a capacity of 100 MW ($44 million from the bank);
- Construction of the Bishkek Solar Power Plant in the Issyk-Kul region with a capacity of 300 MW ($180 million from the bank);
- Modernization of the Kant Cement Plant ($49 million);
- Modernization of the road in Osh ($14 million).
“The funds are being used according to the schedule. The project includes two phases: the first will involve the construction of 100 MW, and the second — 200 MW. All necessary permits for the first phase have been obtained, and work is already underway. The first phase is expected to be completed in 2026. The state expertise conclusion for the second phase is being prepared,” noted Dalenov.
Additionally, $5.1 million has been allocated for technical assistance, allowing for the engagement of independent consultants for the implementation of the solar station project, as well as organizing training workshops on public-private partnerships.
“The bank is currently reviewing projects from Kyrgyzstan in the fields of industry, energy, including renewable sources, and the agro-industrial complex,” added Ruslan Dalenov.
Future Plans for Kyrgyzstan
The EDB is ready to consider financing key projects in Kyrgyzstan.Ruslan Dalenov expressed interest in the construction project of the Kambar-Ata HPP-1, recognized as important for the region and aligned with the bank's priorities.
We are ready to participate in this project and can offer more flexible financing conditions.Nikolai Podguzov also noted the bank's readiness to participate in projects in the field of nuclear energy, adding that Kyrgyzstan is at the stage of discussing this idea. “It is important that reflections on the project evolve into concrete plans, and then we are ready to engage in both design and co-financing,” he added.
Deputy Chairman of the Management Board Yaroslav Mandron clarified that the bank can allocate between $300 million to $500 million for a single borrower, which also applies to nuclear energy.
Regarding railway construction, the EDB is interested in the Balykchy - Cholpon-Ata railway project. Initially, financing for the preliminary feasibility study was planned; however, $1.5 million has now been allocated for these purposes.
“In December, we will jointly determine the structure of the technical assignment with Kyrgyz Temir Zholu, and in January 2026, we will hold a competition for its execution. We expect the work to be completed in the first half of 2026. The preliminary cost of the project is estimated at between $300 million and $500 million, and we will also work on finding financing,” added Mandron.
