BAKU, Azerbaijan, April 21. The European Bank for Reconstruction and Development (EBRD) will provide 11 million euros to Kyrgyz Temir Zholu, Kyrgyzstan's national railway operator, for infrastructure modernization, Akunaly Dosaliev, Deputy Minister of Transport of Kyrgyzstan, said at a meeting of the parliamentary Committee on Transport, Communications, Architecture and Construction, Trend reports, citing Kyrgyz media.
The total cost of the project is 12 million euros, of which 8 million euros accounts for EBRD's loan, and 3 million euros - EBRD's grant. At the same time, 1 million euros will be invested by Kyrgyz Temir Zholu. The loan is taken at 1 percent with Euribor variable rate for 12 years with two-year grace period.
The funds will be allocated for the purchase of 70 wagons and rails, the construction of anti-fall structures on a 150-meter section in the Boom Gorge [a river gorge in Chüy Region and Issyk-Kul Region of Kyrgyzstan], as well as for the overall infrastructure improvement.
Meanwhile, the current EBRD's portfolio in Kyrgyzstan as of February 28 totaled 166 million euros, which is allocated for 74 active projects. In total, EBRD has allocated 885 million euro for 220 projects in Kyrgyzstan.