EU Commits $1 Billion to Kyrgyz Republic for Kambar-Ata-1 Hydropower Project
The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) will each provide $500 million to the Kyrgyz Republic for the construction of the Kambar-Ata-1 Hydropower Plant (HPP).
Energy ministers of Kazakhstan, the Kyrgyz Republic, and Uzbekistan, along with heads of international financial institutions, reviewed the project’s progress during the Global Gateway Forum in Brussels.
Following the discussions, the European Union signed an agreement with Kyrgyzstan, Kazakhstan, and Uzbekistan to finance the $2.4 billion project, of which $1 billion will be allocated to the Kyrgyz Republic, according to the Kyrgyz Energy Ministry’s press service.
The Kyrgyz Energy Ministry also signed separate memoranda of understanding with the EIB and EBRD, confirming their commitments to co-finance the hydropower project.
The Kambar-Ata-1 Hydropower Plant is considered a strategic regional initiative aimed at strengthening energy security, advancing sustainable development, and fostering regional cooperation in Central Asia.
Photo credit: economist.kg
