Eurasian Fund for Stabilization and Development to reconstruct road in Kyrgyzstan

BISHKEK (TCA) — The Eurasian Fund for Stabilization and Development’s (EFSD) delegation visited Bishkek with a monitoring mission to discuss progress of the EFSD-funded investment projects to reconstruct a section of the Bishkek–Osh motor road and commission Unit 2 at Kambarata hydropower plant 2, as well as preparations for the project to reconstruct the Aral–Suusamyr road, the press service of the Eurasian Development Bank (EDB) said on February 12.

At meetings with the Kyrgyz Ministry of Transport and Roads, Ministry of Finance, the contractor and the engineering consultant for the project to reconstruct a section of the Bishkek–Osh road (Phase 4), the sides discussed project implementation and measures necessary to speed it up.

Concerning the commissioning of Unit 2 at Kambarata HPP 2, the EFSD delegation met with the Kyrgyz Ministry of Finance, the State Committee for Industry, Energy and Subsoil Use, and Elektricheskiye Stantsii to approve working documents and discuss construction of an additional water discharge outlet at the HPP, as well as other measures to ensure its safe operation.

The Kyrgyz Ministry of Transport and Roads and the Ministry of Finance confirmed their readiness to launch the reconstruction of the Aral-Suusamyr road with the EFSD. The Kyrgyz Republic plans to submit a preliminary project finance application to the Fund after necessary intragovernmental procedures are complied with.

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB’s charter capital totals US $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, the Russian Federation, and Tajikistan.

The Eurasian Fund for Stabilisation and Development (EFSD) amounting to US$8.513 billion was formed in 2009 by the governments of the same six countries. The objectives of the EFSD are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.

Sergey Kwan

TCA

Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
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Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

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