Kyrgyzstan has secured a €1.5m sovereign loan from the European Bank of Reconstruction and Development (EBRD). The money will be poured into the country’s Batken Water Company and used to improve water supply and wastewater services.
The EBRD, which is a multilateral institute headquartered in London, announced it will also seek €2.5m investment grant from an international or bilateral donor in order to co-finance the implementation of the sub-project to undertake further water and wastewater infrastructure rehabilitation needs.
Over the past 12 years, the EBRD’s operations in Kyrgyzstan have translated into more than 100 projects and investments totalling $637m.
In general, the bank’s operations in Kyrgyzstan are focussed on private sector development (support of small and medium-sized enterprises).
The EBRD is owned by 64 countries as well as the European Investment Bank and the European Union as of this year. Its main aim is to offer loans, debt securities in order to assist development in Eastern Europe, Central Asia and North Africa.