At the forum, it was announced that the European Union is ready to allocate a total of $2.4 billion to finance the project by signing bilateral agreements with Kyrgyzstan, Uzbekistan, and Kazakhstan.
In particular, Kyrgyzstan will receive $1 billion, made possible by the signing of two memoranda:
1. A Memorandum of Understanding between the Ministry of Energy of the Kyrgyz Republic and the European Investment Bank, signed by Minister Talaybek Ibraev and General Director Andrew McDowell. This document provides for financing of up to $500 million for the 'Kambar-Ata-1 Hydroelectric Power Plant' project.
2. The second memorandum was signed with the European Bank for Reconstruction and Development in the presence of the bank's president, Odile Renaud-Basso. The parties agreed on financing of up to $500 million, with the document signed by Minister Ibraev and Regional Director Hussein Ozhan.
The 'Global Gateway' forum brought together high-ranking representatives from states, the business community, and international financial organizations aimed at developing international economic cooperation.
