EDB experts inspect Toktogul HPP and Kambarata HPP 2 in Kyrgyzstan

16 July 2014

Moscow, 16 July 2014. Eurasian Development Bank's (EDB) specialists completed their four-day mission to the place where two investment projects are proposed to be implemented in Kyrgyzstan with finance from the EurAsEC Anti-Crisis Fund (ACF). The projects are the reconstruction of Toktogul HPP, including the replacement of Units 2 and 4 with the replacement/repair of auxiliary systems and plant equipment, and the commissioning of Unit 2 at Kambarata HPP 2.

EDP specialists have inspected the plants and provided a preliminary assessment of their condition.

The mission was intended to collect information necessary to prepare project documents for the ACF Council to pass respective decisions. The experts met with the management of the plants and Elektricheskiye Stantsii to discuss current problems and needs.

In July 2014 the ACF Council approved blueprints for these two investment projects.

In addition, EDB specialists met in Bishkek with representatives of the Asian Development Bank (ADB). The project to reconstruct Toktogul HPP is expected to be co-financed by EDB and the ADB. The sides discussed the details of their cooperation, agreed on mutual approaches to project assessment, and prepared a detailed plan of their joint work. The representatives of EDB and the ADB signed a memorandum on this project and proposed it to the Kyrgyz side for signature.

Additional Information

Eurasian Development Bank is international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of he Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.

The EurAsEC Anti-Crisis Fund (ACF) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The objectives of the ACF are to assist the member countries in overcoming the consequences of global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The ACF member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the ACF Resources Manager. Read more at https://efsd.eabr.org.

EDB Media Centre:
Mikhail Mzareulov, +79032446025