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The European Bank for Reconstruction and Development (EBRD) will allocate USD 12 million to Kyrgyzstan to modernize the country’s railway infrastructure. The corresponding agreement was signed by Minister of Finance of the Kyrgyz Republic Almaz Baketaev and President of the EBRD Odile Renault-Basso on the sidelines of the Central Asian Investment Forum in Japan.

Baketaev said that out of the USD 12 million provided, USD 8 million is a loan, USD 4 million is a grant.

“These funds are for the Kyrgyz Temir Zholu State Enterprise (Kyrgyz Railways). Today, the state enterprise is carrying out large-scale design work, including the issue of re-equipping rolling stock. These funds will be used to purchase wagons, as well as to strengthen and maintain the country’s railways,” the head of the Ministry of Finance said.

 

 

Source: Kyrgyz National News Agency