Asian Infrastructure Investment Bank ready to finance construction of Kambar-Ata-1 HPP
Asian Infrastructure Investment Bank ready to finance construction of Kambar-Ata-1 HPP AKIpress
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Asian Infrastructure Investment Bank ready to finance construction of Kambar-Ata-1 HPP
Introduction
Chairman of the Cabinet of Ministers Akylbek Japarov held talks with President of Asian Infrastructure Investment Bank Jin Liqun in connection with the IMF-World Bank Spring Meetings in Washington D.C. The purpose of the meeting was to discuss the potential financing of the construction of Kambar-Ata-1 HPP and its contribution to the Sustainable Development Goals (SDGs).
Importance of Asian Infrastructure Investment Bank
The Asian Infrastructure Investment Bank (AIIB) is an important strategic partner that provides significant support to the Kyrgyz Republic in key areas of development. The bank plays a crucial role in promoting sustainable infrastructure projects that align with the SDGs.
Water and Energy Resources
Cabinet Chairman Japarov raised the issue of water and energy resource scarcity, emphasizing its relevance for all countries in Central Asia. The construction of Kambar-Ata-1 HPP is expected to address this problem and have a positive impact not only on Kyrgyzstan but also on the entire region.
Financing the Kambar-Ata-1 HPP
Akylbek Japarov proposed that the AIIB participate in financing the construction of Kambar-Ata-1 HPP. The AIIB President acknowledged the seriousness and scale of the project, as evidenced by the World Bank Group’s initial financing commitment of $500 million. The AIIB expressed its readiness to participate in financing this promising project.
Bilateral Working Group
The parties agreed to establish a bilateral working group to collaborate on the construction of Kambar-Ata-1 HPP. This group will work towards coordinating the project and ensuring its successful implementation.
Invitation to Investment Energy Forum
Cabinet Chairman Akylbek Japarov extended an invitation to the AIIB President to attend the Investment Energy Forum in Vienna in early June 2024. The forum will focus on the Kambar-Ata-1 HPP project and mobilizing financial resources for its implementation. The AIIB President accepted the invitation, demonstrating their commitment to supporting sustainable energy projects.
SDGs, Targets, and Indicators
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SDG 6: Clean Water and Sanitation
- Target 6.4: By 2030, substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity.
- Indicator: The article mentions the problem of supply of water resources in Central Asia, indicating a potential water scarcity issue that needs to be addressed.
-
SDG 7: Affordable and Clean Energy
- Target 7.1: By 2030, ensure universal access to affordable, reliable, and modern energy services.
- Indicator: The article discusses the construction of the Kambar-Ata-1 HPP, which will contribute to the production of energy resources and potentially improve access to energy services in Kyrgyzstan and Central Asia.
-
SDG 9: Industry, Innovation, and Infrastructure
- Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being.
- Indicator: The article highlights the importance of the Kambar-Ata-1 HPP construction project for the development of infrastructure in Kyrgyzstan and Central Asia.
-
SDG 17: Partnerships for the Goals
- Target 17.6: Enhance North-South, South-South, and triangular regional and international cooperation on and access to science, technology, and innovation and enhance knowledge sharing on mutually agreed terms.
- Indicator: The article mentions the partnership between the Kyrgyz Republic and the Asian Infrastructure Investment Bank (AIIB) in financing the Kambar-Ata-1 HPP construction project, indicating international cooperation and knowledge sharing in the field of infrastructure development.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 6: Clean Water and Sanitation | Target 6.4: By 2030, substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity. | The article mentions the problem of supply of water resources in Central Asia, indicating a potential water scarcity issue that needs to be addressed. |
| SDG 7: Affordable and Clean Energy | Target 7.1: By 2030, ensure universal access to affordable, reliable, and modern energy services. | The article discusses the construction of the Kambar-Ata-1 HPP, which will contribute to the production of energy resources and potentially improve access to energy services in Kyrgyzstan and Central Asia. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being. | The article highlights the importance of the Kambar-Ata-1 HPP construction project for the development of infrastructure in Kyrgyzstan and Central Asia. |
| SDG 17: Partnerships for the Goals | Target 17.6: Enhance North-South, South-South, and triangular regional and international cooperation on and access to science, technology, and innovation and enhance knowledge sharing on mutually agreed terms. | The article mentions the partnership between the Kyrgyz Republic and the Asian Infrastructure Investment Bank (AIIB) in financing the Kambar-Ata-1 HPP construction project, indicating international cooperation and knowledge sharing in the field of infrastructure development. |
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Source: akipress.com
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