BISHKEK, Kyrgyzstan, April 19. The European Investment Bank (EIB) has appointed key representatives from the bank to begin studying the Kambarata-1 hydropower plant (HPP) construction project in Kyrgyzstan and its financing issues, Trend reports.
The decision was made following negotiations between the Chairman of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, and the Acting Managing Director of the European Investment Bank (EIB), Markus Berndt.
Berndt highly appreciated the project and noted that authoritative financial institutions such as the World Bank (WB), the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB) have expressed firm readiness to finance the construction project of the Kambarata-1 HPP. He added that this circumstance indicates that the project is highly promising and relevant today.
Berndt expressed great interest in financing this project, considering the bank's policy aimed at the comprehensive development of green energy.
A delegation led by Chairman Japarov is currently in Washington to participate in the spring meetings of the boards of governors of the International Monetary Fund (IMF) and the World Bank Group (WBG).
The Kambarata-1 HPP on the Naryn River is the largest hydroelectric project in the country. This HPP, which is expected to become one of Central Asia's largest hydropower ventures, will have a capacity of 1,860 MW and a reservoir volume of 5.4 billion cubic meters, with an annual electricity generation of 5.6 billion kWh.