A loan is provided for 25 years
Kyrgyzstan will receive 187.5 million Saudi riyals (approximately 50 million US dollars) from the Saudi Development Fund to finance the construction of new educational institutions. The Jogorku Kenesh approved the bill for the ratification of this loan agreement in the third reading.
The loan term is 25 years, including a 5-year grace period, and the interest rate is 1.5% per annum.
The Minister of Construction, Architecture, and Housing and Communal Services, Nurdin Oruntaev, reported that these funds will be used to build 13 new schools and extensions to existing educational institutions in Bishkek and the Chui region.
The project launch is planned for the period from 2026 to 2029.
In the first phase of this project, 30 schools have already been built across the country.
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