According to the justification, ratification is necessary to complete domestic procedures so that this agreement can come into force.
Content and terms of the agreement
Deputy Minister of Construction Talantbek Imankun uulu reported that the project involves attracting 187,500,000 Saudi riyals, which corresponds to 50 million US dollars. The loan will be issued for a period of 25 years, with a five-year grace period and an annual interest rate of 1.5%. Loan payments will be made twice a year.
According to the deputy minister, the funds will be directed towards the following goals:
- construction of 5 new schools;
- construction of 7 additional educational buildings in Bishkek;
- establishment of 2 new educational institutions in the Chuy region.
Each of the new buildings will be designed for a student capacity ranging from 150 to 1,000.
Imankun uulu also noted that the project implementation is scheduled to start in 2026, with completion expected in 2029. Construction will take two years, after which a one-year warranty service period will be provided.
The main objective of the project is to ensure equal access to quality education and improve social infrastructure through the construction of new schools, he added.
According to the provided information, the first phase of the project has already been completed: 30 educational institutions have been built in the country, accommodating 8,060 students, at a total cost of 30 million US dollars.
