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Priority investment projects selected

December 13, 2018

On December 13, the Council for the drafting a list of priority investment projects established under the Sustainable Development Project Preparation Fund discussed the business projects received and selected the most relevant projects for selection criteria.

A feasibility study of these projects will be developed with the technical support of the UNDP project in the Kyrgyz Republic “Capacity Building for Financing Sustainable Development in the CIS Region”.

The IBC representative is a Council member.

On December 11, the Government’s Council on fiscal and investment policy approved several of investment projects. The meeting was chaired by Prime Minister Mukhammedkaly Abylgaziyev.

At the meeting of the President of the Kyrgyz Republic Sooronbai Jeenbekov with the donor community in November, comments were made in terms of delaying the adoption of necessary decisions and excessive bureaucratic delays.

“When attracting concessional loans and grants, we should clearly determine what effect we would get from this and from what funds we will repay obligations, since this affects the country's budget. We should ensure the most effective and rational use of the borrowed loans,” said Abylgaziyev.

The Council considered several investment projects aimed at the major reconstruction of the Uch-Kurgan HPP, the modernization of wastewater treatment plants in the Issyk-Kul Oblast, the improvement of water resources' resilience to climate change and natural disasters, as well as increasing the operational safety of the Kambarata HPP-2.

Following the discussions, it was decided to approve two of the four projects reviewed, and the rest were returned for revision, taking into account the comments and suggestions made.