BISHKEK, Kyrgyzstan, May 22. The Eurasian Development Bank (EDB) will provide technical assistance to Kyrgyzstan for the acquisition of equipment for the thermal power plant (TPP) in Bishkek, Trend reports.
An agreement was struck after a meeting between Nikolai Podguzov, the bank's chairman of the management board, and Akylbek Japarov, the chairman of the cabinet of the ministers of Kyrgyzstan, according to EDB.
The EDB's Technical Assistance Fund (TAF) is funding this project to rebuild the local thermal power station to provide reliable and uninterrupted energy production and prevent energy crises. The effort entails TPP equipment purchase and installation. Project costs reach $537,500.
A multilateral development bank with $7 billion in charter capital, the EDB promotes economic growth in its member states, trade and economic links, and Eurasian integration through investment. Established in 2006, the bank is headquartered in Almaty, Kazakhstan.
In 2023, the EDB allocated $92 million for new investment projects in Kyrgyzstan, marking a record amount since the bank began its operations in the country.