The Parliament of Kyrgyzstan has endorsed bill on sustainable development of Issyk-Kul. The decision was made while discussing ratification of a financing agreement for Issyk-Kul Sustainable development Project, signed on November 5, 2009 between Kyrgyzstan and the Asian Development Bank, news agency "24.kg" reported.
As to Marat Sultanov Finance Minister of Kyrgyzstan, ADB allocates $30 million, $13.5 million of which is grant and $16.5 million- credit, for 40 years with 10- year grace period. "The project will include improvement of Balykchy, Cholpon-Ata, Karakol towns' infrastructures- modernization of water supply and waste- water systems, recycling of solid wastes. The project will be launched in 2011 and will last till 2014 under control of Issyk-Kul regional administration," Sultanov said.
In case of effective realization, the sponsors are to allot 30 million soms for development of other towns in the region.
"The ADB specialists have anti-corruption mechanisms for monitoring of the project," the minister added.