BISHKEK, Kyrgyzstan, November 25. The Eurasian Development Bank (EDB) will build 9 schools in Kyrgyzstan, Trend reports.
The bill on the ratification of the corresponding grant agreement with the EDB was approved in the third reading by the Committee on International Affairs, Defense, Security, and Migration of the Kyrgyz Parliament.
The agreement was signed on July 23, 2024, in Bishkek. The bill was initiated by the Chairman of the Cabinet of Ministers.
The agreement outlines the procedure for the grant provision, under which the EDB will finance the construction and material-technical outfitting of 9 schools in Kyrgyzstan. In return, Kyrgyzstan will fulfill its obligations under the intergovernmental agreement to ensure the successful implementation of the project.
The construction funding will come from the Eurasian Fund for Stabilization and Development, within the grant amount. Upon completion of construction and equipping the schools, the EDB will transfer them to Kyrgyzstan on a non-refundable and non-returnable (grant) basis.
Established in 2006, the Eurasian Development Bank is a multilateral development bank. The bank aims to promote economic growth in its member states with an authorized capital of $7 billion.
As of August 2024, the EDB's investment portfolio in Kyrgyzstan amounted to $217.5 million, covering 9 projects across 3 sectors: 2 in energy, 6 in the financial sector, and 1 in construction.