The Financial and Credit Fund has acted as a guarantor in the construction of Kulanak hydropower plant (HPP) for $88 million. The Ministry of Finance of Kyrgyzstan reports.
To provide state support to the subjects of national economy of the country, the Cabinet of Ministers has introduced a financial instrument of providing a guarantee to attract external and internal investments. The project Construction and Operation of Kulanak HPP was included in the action plan for the implementation of the National Development Program until 2026.
The Financial and Credit Fund signed guarantee agreements on the project of Construction and Operation of Kulanak HPP for a total amount of $88 million. The total cost of the project is $127.9 million, of which $88 million is financed by the Eurasian Development Bank and the Russian-Kyrgyz Development Fund on a parity basis.
Kulanak HPP is planned to be commissioned by the end of 2025. The project was initiated by Naryn Production Enterprise LLC.
Source: 24.kg News Agency