Luxembourg/Bishkek, 30 May 2016
EIB supports the development of Kyrgyz Republic's water and solid waste infrastructure
The European Investment Bank (EIB) is lending EUR 20 million to the Kyrgyz Republic to finance improvements in the municipal solid waste and water sectors from which some 850,000 people or 15% of the total population of the country will benefit.
EIB Vice-President Jan Vapaavuori, who signed the loan on the first visit of a Member of the EIB Management Committee to the Kyrgyz Republic, stated: "EIB funds will help increase the quality of life of Kyrgyz Republic's citizens and reduce public health risks by providing an adequate supply of drinking water and improving the disposal of solid waste and wastewater. At the same time we are identifying with Kyrgyz authorities projects suitable for EIB financing that are relevant to further develop the country's economy in line with EU and Kyrgyz Republic priorities." The ceremony was attended by EU Ambassador Cesare De Montis.
This project addresses the most urgent needs in the water and waste management sectors in the Kyrgyz Republic. The project is a good example of cooperation between the EIB, the EU and the European Bank for Reconstruction and Development, and is supervised by the Delegation of the European Union to the Kyrgyz Republic.
Two solid waste schemes in the cities of Osh and Jalal-Abad respectively comprise upgrades of the existing waste collection system and construction of new sanitary landfills. Undertakings in the water sector are being in preparation, notably in the cities of Osh, Uzgen, Kara-suu, Kizyl-Kiya, Balykchy, Cholpon-Ata, and Karakol.
This is the second loan granted by the EIB in the Kyrgyz Republic. In 2015 the EU bank provided EUR 70 million to finance the construction of a high voltage electricity power transmission line interconnecting the Kyrgyz Republic's and Tajikistan electricity networks, increasing the reliability of the electricity systems and enabling the development of regional electricity trade in Central Asia.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
The EIB is regularly awarded the best possible rating ("AAA") by the leading rating agencies. As a result, the Bank can raise funds on the world's financial markets on very favourable terms. The EIB is a non-profit oriented institution and passes on these favourable terms to its customers.