During an extraordinary meeting of the Committee on Industrial Policy, Transport, Fuel and Energy Complex, Architecture, and Construction, a Credit Agreement for the construction of a 500 kV overhead power line between the substations 'Kemin' and 'Balakchy' was reviewed and approved. The agreement is concluded between Kyrgyzstan and the European Bank for Reconstruction and Development, as well as a Grant Agreement covering the same project, signed between the Kyrgyz Republic, the National Electric Network of Kyrgyzstan OJSC, and the same bank.
Deputy Minister of Energy Emilbek Ismanov presented this information.
According to him, the project includes three components, and the total cost will amount to 67.7 million euros. Of this, 61.7 million euros is a loan, 3 million euros is a grant, and another 3 million euros is provided as technical assistance. The loan term is 20 years with a grace period of 5 years and an interest rate of 1% per annum.
During the discussion, Deputy Kunduzbek Suimanov expressed support for the project, inquiring about its completion timeline. Emilbek Ismanov responded that construction work is scheduled to be completed by 2028.
Deputy Gulya Kozhokulova raised the issue of difficulties in the energy sector, pointing out the serious problems faced by the population due to limited access to electricity.
Emilbek Ismanov assured that Kyrgyzstan would be able to emerge from the energy crisis within three years. Deputy Temirlan Aitiev inquired about the market interest rate Euribor that will be used under the Credit Agreement.
