“The EIB is underpinning the EU’s political commitments in the Central Asia region by financing projects in Kyrgyzstan”, said Vazil Hudak, Vice-President of the European Investment Bank (EIB) on Wednesday 31 May in Bishkek. Travelling to the region for a mission of one week, an EIB delegation met on Wednesday with Kyrgyz national authorities just when the EU bank’s third operation in the country is expected to be signed shortly with the Kyrgyz Republic.
The EIB launched its activity in Kyrgyzstan in 2014 and has already signed two operations totalling EUR 90m. The object of the first loan, the Central Asia / South Asia Electricity Transmission project, forms part of an important regional electricity scheme also involving Tajikistan, Afghanistan and Pakistan. The second operation, the Kyrgyz Water and Solid Waste Framework Loan, is bringing improvements to the municipal solid waste and water sectors.
“We want to focus more on the development of rural areas and the agri-food sector, since it is a key pillar of the Kyrgyz economy”, EIB Vice-President Hudak stated after his meeting with Finance Minister Adylbek A. Kasymaliev. The EIB is proud that this project will provide medium to long-term finance to private sector agri-food operators. Furthermore, it will support producers, processors and associated agri-food businesses across the country and facilitate the replacement of outdated, resource-inefficient machinery and equipment. This important programme is also expected to benefit from grant support from the EU.
During the mission the EIB delegation also held a meeting with the Kyrgyz State Committee for Energy, Industry and Subsoil Use to review the implementation of the energy project and discuss the pipeline of possible future projects, whereby development of the new hydro power plant network offers key potential for further cooperation.
