Kyrgyz parliament ratifies loan and grant deals for Uch-Kurgan HPP modernization

AKIPRESS.COM - Parliament has ratified the loan and grant agreements with the Asian Development Bank on the modernization of the Uch-Kurgan HPP project signed on November 1, 2019 in Bishkek in the third reading on Feb 20.
According to the feasibility study, the total size of the Uch-Kurgan HPP modernization project is $160 million.
The Asian Development Bank is providing $100 million, including $40 million in grants, $60 million in loans for 32 years with 8-year grace period and annual interest rate of 1%.
Additional $45 million will be borrowed from the Eurasian Development Bank and Kyrgyz government will co-finance $15 million.