The draft law on the ratification of the agreement with the Saudi Fund was presented for the deputies' consideration and was adopted in the first reading. Talantbek Imanakun uulu, Deputy Minister of Construction, Architecture, and Housing and Communal Services, reported that within the framework of the project, 187.5 million Saudi riyals, equivalent to $50 million, is planned to be attracted, with a repayment period of 25 years and a grace period of 5 years at an interest rate of 1.5% per annum.
According to the speaker, the loan funds will be directed towards the construction of new schools in Bishkek and the Chui region. These educational institutions will be able to accommodate between 150 and 1,000 students. The implementation of the project is expected to take place from 2026 to 2029, including two years for construction and one year for the warranty period.
In addition, Imanakun uulu noted that the first phase of the project "Construction of Public Schools (Phase I)" has been successfully completed, which was also financed by the Saudi Fund. Within this phase, 30 educational institutions were built across the country at a cost of $30 million.
