European Investment Bank to support Kyrgyzstan’s agriculture

BISHKEK (TCA) — “EIB is backing the political commitments of the EU in the region of Central Asia, when financing the projects in Kyrgyzstan,” Vazil Hudak, Vice-President of the European Investment Bank (EIB) said on May 31 in Bishkek, the Bank’s press service said.

Travelling to the region for one week mission, a delegation of the European Investment Bank (EIB) met on May 31 with Kyrgyz national authorities right in time when the third operation of the EU Bank in the country is expected to be signed shortly with Kyrgyzstan, the Bank said on June 2.

The EIB has launched its activity in Kyrgyzstan in 2014, and already signed two operations in total for EUR 90 million. The first loan, to finance the Central Asia – South Asia Electricity Transmission project, forms part of an important regional electricity scheme, involving also Tajikistan, Afghanistan and Pakistan. The second operation, the Kyrgyz Water and Solid Waste Framework Loan brings improvements in the municipal solid waste and water sectors.

“We want to focus more on the development of the rural areas and agri sector, since it is a key pillar of the Kyrgyz economy,” EIB Vice-President Hudak stated after the meeting with Kyrgyz Finance Minister Adylbek Kasymaliev. “EIB is proud that this project will provide medium- to long-term finance to private sector agri-food operators. Furthermore, it will support producers, processors and associated agri-food businesses across the country and facilitate replacement of outdated, resource-inefficient machinery and equipment. This important programme is also expected to benefit from grant support from the EU.”

During the mission the EIB delegation held also a meeting with the Kyrgyz State Committee for Energy, Industry and Subsoil Use to review the implementation of the Energy project and to discuss the pipeline of potential projects for the future, where development of the new hydro power plant network presents a key potential for further cooperation.

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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