Deputies discussed and approved in the first reading a bill concerning the ratification of the loan agreement between the government and the fund.
The Deputy Minister of Construction, Architecture, and Housing and Communal Services, Talantbek Imanakun uulu, reported that within the framework of this project, it is planned to attract 187.5 million Saudi riyals, which is approximately $50 million. The loan term will be 25 years, with a grace period of 5 years and an interest rate of 1.5% per year.
According to the speaker, the funds will be directed towards the construction of five educational institutions and seven new buildings in Bishkek, as well as two schools in the Chui region. Each institution will be designed for a number of students ranging from 150 to 1,000. The implementation of the project is scheduled for the period from 2026 to 2029, with two years allocated for construction and one year for warranty service.
He also noted that the first phase of the project "Construction of Public Schools (Phase I)," funded by the Saudi Development Fund, has been successfully completed, during which 30 schools were built across Kyrgyzstan at a cost of $30 million.
