The Chairman of the Cabinet of Ministers, Akylbek Japarov, met with the President of the Asian Development Bank, Masatsugu Asakawa, in Washington, USA. The meeting focused on bilateral relations between the Kyrgyz Republic and ADB, particularly the progress of projects funded by ADB.
Special attention was given to ADB's participation in financing the construction of the Kambaratinskaya HPP-1 project. Japarov outlined the fundamental advantages of the project, the proposed financing model, potential impact on energy security in Central Asia, and other relevant data to attract ADB's participation.
Asakawa confirmed the bank's readiness to finance the Kambaratinskaya HPP-1 and support projects contributing to sustainable development of the energy sector and infrastructure in the region. The volume of financial support and instruments will depend on the project's financing structure.
The ADB President emphasized the bank's wide range of financial instruments, from highly concessional sovereign loans to private sector financing and various guarantees. Japarov invited Asakawa to participate in an investment energy forum in Vienna in early June 2024 dedicated to the Kambaratinskaya HPP-1 project, aiming to attract investors worldwide.
Asakawa agreed to participate in the event for more detailed negotiations. The Vienna forum is expected to lead to strategic decisions and statements from stakeholders regarding the construction of the Kambaratinskaya HPP-1.
At the invitation of Kyrgyzstan's President, Sadyr Japarov, the ADB President will visit Kyrgyzstan in November to commemorate the 30th anniversary of cooperation between the bank and the republic, to familiarize himself with ADB's projects, and engage in high-level bilateral meetings.
