BAKU, Azerbaijan, October 16. Under a new Country Partnership Strategy (CPS) for 2023-2027, Asian Development Bank (ADB) will provide an integrated suite of sovereign and non-sovereign financing solutions for further renewable energy development in Kyrgyzstan, ADB Country Director for the Kyrgyzstan Resident Mission, Zheng Wu, told Trend.
He elaborated that the financing includes upscaling the urban e-mobility program and supporting other government initiatives aimed at developing Kyrgyzstan’s energy sector.
Zheng Wu mentioned that ADB is supporting the country's energy sector through various projects, including:
- A $100 million financing package for the Uch-Kurgan Hydropower Plant Modernization Project
- A $67.8 million financing package for the Toktogul Rehabilitation Phase 2 Project
- A $55.9 million financing package for the Toktogul Rehabilitation Phase 3 Project
- A $50.7 million financing package for the Urban Transport Electrification Project.
"Kyrgyzstan is rich in hydropower resources, potentially capable of generating around 150 terawatt-hours (TWh) of electricity per year, with only 10 percent has been exploited so far," he added.
"Until now, about 80 percent of its 3,920-megawatt (MW) electricity generation capacity comes from hydropower, while the rest is generated by two combined heat and power plants in Bishkek and Osh," Zheng Wu said.
Since joining the ADB in 1994, the bank has remained one of Kyrgyzstan's largest partners for development. Currently, ADB's efforts in the country focus on diversifying the economy, promoting inclusive development, and providing social protection.
The ADB is working with the country to improve its legal and regulatory frameworks, enhance the business environment, make affordable finance accessible, ensure reliable electricity services, improve transportation connections and urban mobility, and enhance people's employability.
The ADB also encourages Kyrgyzstan’s participation in the Central Asia Regional Economic Cooperation (CAREC) Program.