According to Nurbek Akzholov, Deputy Minister of Finance, at a meeting of the Committee of the Jogorku Kenesh on Finance, Budget, and Competition Development, the amount will total $1 billion 26 million 760 thousand, of which $32.7 million will be provided as grants, and $994 million will be in the form of concessional loans.
The loans will be issued for a period of 25 years with a grace period of five years and an annual interest rate of 1.5%.
The Deputy Minister specified that the targeted allocation of funds will be as follows:
- $450 million will be directed to support the economy, especially the private sector;
- $362.7 million will be allocated for the development of the energy sector, including the Kambaratinskaya HPP-1 project;
- $180.2 million will be used to provide the population with irrigation and clean drinking water;
- $61 million will be allocated for digitalization.
Nurbek Akzholov also noted that the economy of Kyrgyzstan is demonstrating stable growth and gaining the trust of international financial organizations. He added that, in this regard, the volume of grants will be reduced, and the terms for issuing loans may also be shortened.
