The agreement was approved by the Jogorku Kenesh in the first reading
At the meeting of the Jogorku Kenesh, a draft law on the ratification of the loan agreement with the Saudi Development Fund concerning the second phase of the "Construction of State Schools" project was adopted.
Under this agreement, Kyrgyzstan will receive 187.5 million Saudi riyals (approximately 50 million dollars) for a period of 25 years, with the first 5 years being grace years. The interest rate on this loan will be 1.5% per year.
The allocated funds will be used to create 5 new schools and 7 additional educational buildings in the capital, as well as to construct 2 new schools in the Chui region. Each educational institution will be designed for an enrollment of 150 to 1,000 students. It is expected that the project will be completed between 2026 and 2029, including all construction work and the warranty period.
It should be noted that the first phase of this project, funded by the Saudi Fund, has already been successfully implemented: within its framework, 30 schools were built for a total of 30 million dollars across the country.
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