Asian Development Bank Endorses $22.58 Million Funding for Kyrgyzstan
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Manila, Dec 2 (NationPress) The Asian Development Bank (ADB) announced on Monday its approval of a funding package amounting to $22.58 million to enhance project readiness and facilitate more efficient and sustainable project execution in Kyrgyzstan.
The ADB noted that this funding comprises a concessional loan of $13.36 million alongside a grant of $9.22 million sourced from the Asian Development Fund. These funds will support project preparatory activities for the design and implementation of ADB-funded initiatives across various sectors, including public transport, energy, urban development, and health, as reported by the Xinhua news agency.
The initial activity supported by this funding will aid in the preparation of a project aimed at expanding the electric bus fleet and establishing dedicated bus lanes in Bishkek.
This financing is expected to facilitate the development of projects focused on climate change mitigation and adaptation, particularly through enhancements in building energy efficiency, public transport systems, renewable energy generation, and water supply, according to ADB's statement.
