BAKU, Azerbaijan, June 4. In close partnership with the European Commission (EC), the European Investment Bank (EIB) is considering potential involvement in financing the Kambarata-1 hydropower plant (HPP) in Kyrgyzstan, a source at the bank told Trend.
“However, it will be possible to provide a more concrete assessment only after the EIB has completed its analysis and made corresponding decisions,” the source said.
It was noted that the EIB operations in Kyrgyzstan focus on supporting projects that align with EU priorities for the country and the Central Asia region, such as fostering the development of a green and climate-resilient economy and digital transformation.
“So far, the EIB is co-financing projects in Kyrgyzstan related to power transmission, water, and waste management, as well as the agri-food sector, in accordance with the EU-Central Asia and the EU Global Gateway strategies. In this regard, the EIB is cooperating very closely with partner international financial institutions such as the World Bank, KfW Development Bank, the European Bank for Reconstruction and Development (EBRD), and the Investment Facility for Central Asia (IFCA),” the source added.
To note, the Kambarata-1 on the Naryn river is the largest hydroelectric project in Kyrgyzstan and is expected to become one of Central Asia's largest hydropower ventures. Once completed, the HPP will have a capacity of 1,860 MW and will produce 5.6 billion kWh of electricity per year. Preliminary estimates indicate that the dam will be 256 meters high and that the reservoir will hold more than 5.4 billion cubic meters of water.