The agreement was approved by the Jogorku Kenesh in the first reading
The draft law on the ratification of the loan agreement between Kyrgyzstan and the Saudi Development Fund, concerning the project "Construction of State Schools" (Phase 2), was adopted by the Jogorku Kenesh in the first reading.
Under the terms of the project, Kyrgyzstan will receive 187.5 million Saudi riyals (approximately 50 million dollars) for a period of 25 years, including a grace period of 5 years. The interest rate on this loan will be 1.5% per annum.
The funding will be directed towards the construction of five new schools and seven additional educational buildings in Bishkek, as well as two new schools in the Chui region. The planned number of places in the educational institutions will range from 150 to 1,000 students. The implementation of the project is expected to take place from 2026 to 2029, including construction work and the warranty period.
It should be noted that the first phase of the project funded by the Saudi Development Fund has already been successfully completed — within its framework, 30 schools were built across the country for a total of 30 million dollars.
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