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Hungarian company joins development of hydropower plant in Kyrgyzstan
Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Zhaparov met with the executive director of the Hungarian company A-Híd László Sal about the design of small hydropower plants, according to a press release sent to the Budapest Business Journal.
President Zhaparov affirmed that the development and construction of small hydropower plants is one of the priority areas in the work of the country’s Cabinet of Ministers. He affirmed that they are ready to implement projects that will create the conditions to ensure the country’s energy independence.
The Ministry of Economy and Trade of the Kyrgyz Republic, the Ministry of Energy and the Hungarian-Kyrgyz Development Fund have signed a cooperation agreement with A-Híd. According to the agreement, research will be carried out to select the most promising sites for the construction of small hydropower plants.
Within the framework of the agreement, the question of financing projects in the field of small hydropower will also be studied using the opportunities of the Hungarian-Kyrgyz Development Fund.
The Hungarian-Kyrgyz Development Fund was established to promote economic cooperation between the Kyrgyz Republic and Hungary. The organization focuses on establishing business contacts and cooperation with Hungarian companies.
The fund provides concessional loans to stand-alone projects in priority sectors of the national economy. Its authorized capital is $16 million.
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