BAKU, Azerbaijan, June 24. The World Bank (WB) will finance an energy project in Kyrgyzstan through credit and grant funds in the total amount of $50 million, Trend reports referring to the official website of WB.
The Kyrgyz Electricity Sector Modernization and Sustainability Project, which was recently approved, aims to enhance the financial performance and operational dependability of Kyrgyzstan's electricity sector.
According to the WB, the implementation of this project will create a supportive social protection mechanism to mitigate consumer impacts of envisaged reforms.
"We in the World Bank hope that with strong political will and commitment on behalf of the authorities and broad-based support from a wide range of stakeholders, Kyrgyzstan’s energy sector is finally set to see a green light and turn into a true driver for the country’s development", the WB says.