An agreement between Kyrgyzstan and the World Bank (WB) has been signed for the provision of technical assistance to update the feasibility study of the Kambarata-1 Hydropower Plant (HPP) construction, Trend reports.
The document was signed by Kyrgyzstan’s Minister of Finance, Almaz Baketaev, and the WB Country Manager for Kyrgyzstan, Naveed Hassan Naqvi. The assistance funding will total $5 million.
The project aims to support the implementation of the Kambarata-1 HPP by updating and refining the existing technical and economic justifications for the project. Additionally, during the meeting, discussions were held regarding ongoing energy projects as well as future steps for implementing new potential investment projects.
On October 31, the WB announced that the funding for this project is facilitated through the International Development Association (IDA) under highly favorable terms. Of the total funding, $3 million is a zero-interest loan, with repayments stretched over 50 years and a 10-year grace pe
riod. Moreover, $2 million is allocated as a grant from a fund supported by multiple donors, which does not require repayment.
The WB anticipates that the Kambarata-1 HPP will be among the most effective endeavors to increase the availability of clean energy, not only in Kyrgyzstan but also across the wider Central Asia region. This project holds the potential to address the country’s energy security concerns and generate substantial income through energy exports.
Source: Trend News Agency
The Supreme Court on Thursday upheld a one-year prison sentence for the mother-in-law of President Yoon Suk Yeol for forging a financial document used in a land purchase deal, according to Yonhap News Agency.
Choi Eun-soon, the 76-year-old mother of first lady Kim Keon Hee, was indicted on charges of using a fake bank balance certificate to purchase real estate in Seongnam, south of Seoul, in 2013. The forged document suggested she had deposited 34.9 billion won (US$26.7 million) into her savings account from April to October of that year.
In December 2021, a district court in Uijeongbu, north of Seoul, sentenced Choi to one year in prison on charges of document forgery without detaining her. But an appellate court ordered her detention after upholding the one-year prison sentence in July this year. At that time, Choi vehemently claimed her innocence upon hearing the verdict.
The Supreme Court said there was no misunderstanding of legal principles in the lower courts’ sentence for Choi.
Source: Azerbai
jan State News Agency