Kyrgyzstan takes loan of €8.8 million for reconstruction of Lebedinovskaya HPP

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Kyrgyzstan takes a loan and a grant from the European Bank for Reconstruction and Development for the modernization of Lebedinovskaya hydropower plant. The draft agreement was submitted to the parliamentary committee on economic and fiscal policy. Deputy Dastan Bekeshev announced this on his Telegram channel.

According to him, the loan amount is €8,800 million, and €5 million is a grant.

He added that the loan is taken for a period of 15 years with an EBRD interest rate of one percent. «In addition, there is also a floating rate,» Dastan Bekeshev wrote.

Lebedinovskaya HPP was put into operation in 1948. The deputy agrees that it needs to be reconstructed, but wonders why the loan amount is so large.