Kyrgyzstan to spend ADB’s loan on 120 electric buses

On April 19, the Committee on Transport, Communications, Architecture and Construction under the Parliament of the Kyrgyz Republic considered the draft law on the ratification of a grant agreement between Kyrgyzstan and the Asian Development Bank on the allocation of over $50 million to the Kyrgyz side, the press office of the Jogorku Kenesh of Kyrgyzstan reports.

The project envisages providing by the Asian Development Bank a concessional loan of $25 million and a grant of $25.7 million.

“The loan is provided for 32 years, including an 8-year grace period, at an annual interest rate of 1% during the grace period, and at an annual interest rate of 1.5% during the remaining term,” the press office reported.

The total project cost is $59.6 million, of which ADB will finance 85%.

The Government will co-finance $8.9 million through an exemption from taxes and customs duties payable under the project.

The project envisages purchasing at least 120 modern energy-efficient electric buses for Kyrgyzstan.

20 апр 2022, 11:53
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