Kyrgyzstan’s Ministry of Finance on September 9 said that it signed the Credit and Grant Agreements with the World Bank on a $13.6 million additional financing for the Kambarata-1 Hydropower Plant (HPP) Project in Kyrgyzstan.
Consisting of a $2.6 million grant and a $11 million loan, this additional funding will supplement the World Bank’s ongoing Technical Assistance for the Kambarata-1 Hydropower Plant Project, approved in the fall of 2023.
The additional funding will complete the work on updating the feasibility study of the Kambarata-1 HPP, which will become the largest hydropower plant in Kyrgyzstan and Central Asia. The project will construct a 256-meter high dam and a reservoir containing 5.4 billion cubic meters of water. The Kambarata-1 HPP will have an installed capacity of 1860 MW, with an average annual generation of 5.6 billion kWh of electricity.
The World Bank’s Board of Executive Directors approved the additional financing on July 11.
The World Bank stated at the time that it aims to support the government of Kyrgyzstan in preparing the Kambarata-1 HPP project in “an environmentally, technically, financially, and commercially sustainable manner”.
The Bank added that this additional financing was needed to ensure comprehensive and in-depth implementation of several critical activities, including establishing panels of experts on dam safety, environmental, and social concerns. The funding will also help in designing a benefit-sharing plan, structuring the project’s financing plan and commercial framework, and establishing a company to run the dam upon its completion.
Photo: gov.kg
