President Japarov to make official visit to Russia

President Sadyr Japarov will make official visit to Russia. President Japarov today received Russian Deputy Prime Minister Alexey Overchuk, president’s press service reported. Kyrgyzstan and Russia are bound by partnership and trust-based relations. The expected visit of President Sadyr Japarov to Russia on May 8-9 will help further rapprochement of two countries, he said.

Source: Central Asian News Services

Head of Kyrgyz Cabinet and executive director of EFSD project block discuss issues of cooperation

Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Zhaparov discussed issues of cooperation with Andrey Shirokov, Executive Director of the Project Unit of the Eurasian Fund for Stabilization and Development (EFSD), the Presidential Administration of the Kyrgyz Republic reported. During the meeting, the parties discussed a wide range of issues of cooperation in the field of economy, agriculture, energy, transport and healthcare. The head of the Cabinet expressed gratitude to Andrey Shirokov for his support in the implementation of major infrastructure projects in Kyrgyzstan. ‘Today, the Eurasian Fund for Stabilization and Development has become a reliable partner of the countries of the entire Eurasian space in the sustainable development of the economy,’ he said. In turn, Andrey Shirokov spoke about the projects implemented in Kyrgyzstan with the support of the Foundation, including those aimed at developing energy resources, education and improving the technical equipment of medical institutions.

Source: Kyrgyz National News Agency

Finance Ministry of Kyrgyzstan: Internal debt will grow in coming years

Internal debt in the structure of the public debt of Kyrgyzstan will increase in the future. The Ministry of Finance reported.

As of January 31, 2023, the size of the state internal debt of the country amounted to 95,660.52 billion soms ($1.1 billion). It is 10.32 percent of GDP. The ratio of domestic debt to total public debt to date is 19.7 percent.

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Public debt of Kyrgyzstan grows by $52,96 million for month

«The Ministry of Finance, in order to implement large-scale state programs and development projects, will also use new tools from internal sources. This means that the size of internal debt will grow. This is due to the fact that internal borrowings have a number of advantages over external ones. There is no risk of exchange rate differences; when paying interest and principal amount, internal creditors will receive the income. Adjusted for inflation and devaluation, the cost of servicing internal debt is much lower than the cost of servicing external debt. Predominance of internal debt in the structure of public debt is observed in many countries of the world,» the ministry said.

It is noted that the funds for servicing the public debt are provided in full in the republican budget. It is repaid on time.

Source: 24.kg News Agency

Russia interested in taking part in construction of Kambarata HPP-1 project

Russia is interested in taking part in the construction project of the Kambar-Ata-1 hydro power plant, Deputy Minister of Energy of the Kyrgyz Republic Sabyrbek Sultanbekov told at a regular meeting of the intergovernmental Kyrgyz-Russian commission on trade, economic, scientific, technical and humanitarian cooperation. He noted that at present the issue has not yet matured and added that the Russian side is interested in participating. President of Kyrgyzstan Sadyr Zhaparov launched the construction of a hydro power plant in June 2022. In turn, in January 2023, the energy ministers of Kyrgyzstan, Uzbekistan and Kazakhstan signed a roadmap for the joint implementation of the Kambarata HPP-1 construction project. The project “Construction of the Kambarata HPP-1” is the largest energy facility of the entire composition of the Kambarata HPP cascade. It provides for the construction of a 256 m high rockfill dam and a hydropower plant with an installed capacity of 1,860 MW, with an average annual output of 5.6 billion kWh and a total reservoir capacity of 5.4 billion m³ of water. The total cost estimate for the construction of the Kambar-Ata HPP-1 is 2 billion 916 million 600 thousand dollars. The project is financed at the expense of budgetary funds and attracted investments.

Source: Kyrgyz National News Agency

Cabinet Chairman Japarov receives Executive Director of Project Unit of Eurasian Stabilization and Development Fund

Chairman of Cabinet of Ministers Akylbek Japarov received Executive Director of the Project Unit of the Eurasian Stabilization and Development Fund Andrei Shirokov, the Cabinet’s press service reported. They discussed a range of cooperation issues in economic sphere, agriculture, energy, transport, health care. The Cabinet Chairman thanked Andrei Shirokov for support in implementation of major infrastructure projects in the Kyrgyz Republic. Andrei Shirokov in turn outlined the current projects in Kyrgyzstan, including projects in energy sector, education, improvement of infrastructure and supplies of healthcare organizations. Andrei Shirokov arrived in Bishkek to attend the 24th meeting of Kyrgyzstan-Russia intergovernmental commission for trade, economic, scientific, technical and humanitarian cooperation.

Source: Central Asian News Services

Sadyr Zhaparov receives Deputy PM of Russia Alexei Overchuk

President of Kyrgyzstan Sadyr Zhaparov received Deputy Prime Minister of the Russian Federation Alexei Overchuk. The meeting took place within the framework of the regular 24th meeting of the intergovernmental Kyrgyz-Russian commission on trade, economic, scientific, technical and humanitarian cooperation in Bishkek. The head of state noted that the brotherhood of the peoples of the two countries, their historical and cultural commonality are considered as a key factor in the development of bilateral relations between Kyrgyzstan and Russia. Expressing gratitude for the support in promoting Kyrgyz-Russian cooperation, he noted the significance of the Agreement signed today on the construction of 9 secondary schools in Kyrgyzstan. Regarding the issue of the status of the Russian language in Kyrgyzstan, Sadyr Zhaparov noted that he strongly opposed any attempts at political manipulation in this matter – the Russian language is enshrined as an official language in the country’s Constitution. Sadyr Zhaparov expressed confidence that the results of the next meeting of the intergovernmental commission would contribute to the deepening of the Kyrgyz-Russian bilateral cooperation. In turn, Deputy Prime Minister of the Russian Federation Alexei Overchuk noted that Kyrgyzstan and Russia are united by partnership and trusting nature of relations, the expected official visit of Sadyr Zhaparov to Russia will serve to bring the two countries even closer. Alexey Overchuk spoke about the project of schools to be built in Kyrgyzstan under the Agreement signed today. According to the information, graduates of new educational institutions will receive certificates of two types – Kyrgyzstan and Russia. Modern schools will consist of four buildings: administrative, sports, for primary school students and separately for senior students. The educational complex will be equipped with modern technology, a play area, swimming pools and gyms. The Russian Deputy Prime Minister noted with satisfaction the busy agenda of the meeting of the intergovernmental commission, on many issues of which a lot of work remains to be done.

Source: Kyrgyz National News Agency

Parliament Speaker visits Toktogul HPP

Parliament Speaker Nurlanbek Shakiev today visited the Toktogul hydropower plant as part of working visit to Jalal-Abad region. By 2025, it is planned to completely replace four turbine-generator units and increase the capacity of the hydropower plant from 1260 MW to 1440 MW. The average volume of incoming water makes 266 cubic meters per second. The volume of outgoing water makes 155 cubic meters per second. “Despite the wear and tear of the equipment, our citizens are provided with light and heat thanks to experienced specialists,’ he said and presented the plant workers with the certificates of honor of the Parliament.

Source: Central Asian News Services

Kyrgyzstan, Sweden discuss prospects of bilateral cooperation

Deputy Chairman of Cabinet of Ministers Edil Baisalov today received Ambassador of Sweden Tomas Danestad, who presented credentials to President Sadyr Japarov. They discussed development of bilateral cooperation between Kyrgyzstan and Sweden in cultural, humanitarian, commercial and industrial spheres.

Source: Central Asian News Services