EFSD intends to participate in the construction of the Kambarata Hydroelectric Power Plant No. 1

The Eurasian Stabilization and Development Fund intends to participate in the implementation of the Kambarata HPP-1 project in Kyrgyzstan and is currently exploring possible financing mechanisms. The Fund has already invested significant funds in the development of hydropower infrastructure, on which the efficiency of the future power plant will depend. EFSD Managing Director Yaroslav Mandron announced this at the International Economic Conference in Astana.

According to Mandron, the EFSD is interested in participating in the construction of the Kambarata HPP-1 and hopes to find a suitable co-financing model in collaboration with the World Bank, countries in the region, and other international partners.

“I very much hope that, together with our partner countries and the World Bank—which is the project’s main coordinator—we will be able to find a suitable co-financing model,” he said.

At the same time, the Fund’s financial capacity allows it to consider participating in the project. Responding to a direct question about the availability of the necessary resources, Mandron confirmed that they are available.

“Yes, the resource base for this exists, given that the project is of interest to our major shareholders,” the managing director noted.

Yaroslav Mandron emphasized that the EFSD is already involved in the development of Kyrgyzstan’s hydropower sector, of which the Kambarata HPP-1 will be a part.

Specifically, the Fund previously provided financing for the Toktogul Hydroelectric Power Plant and is currently participating in the modernization of the Kambarata Hydroelectric Power Plant No. 2. The funds are being used to upgrade the hydroelectric units and construct a surface spillway.

According to Mandron, these projects are of direct importance to the future Kambarata Hydroelectric Power Plant No. 1.

“First and foremost, it is important to understand that the Kambarata project encompasses not only the Kambarata HPP-1 but the entire cascade of hydroelectric power plants. Without the projects related to the Toktogul HPP and the Kambarata HPP-2, the capabilities of the Kambarata HPP-1 itself will be limited,” he explained.

In addition, Mandron noted that the construction of the Kambarata HPP-1 involves not only the creation of power facilities but also supporting infrastructure, including roads. This also opens up opportunities for international financial institutions to participate in the project.