According to the terms of the agreement, the Ministry of Finance is obliged to notify the Saudi Fund of the completion of all necessary internal procedures. Kyrgyzstan expects to attract 187.5 million Saudi riyals, which corresponds to $50 million, for a period of 25 years with a five-year grace period. The interest rate on the loan will be 1.5% per annum.
The funding will be directed towards the construction of:
• five new schools and seven additional buildings in the capital;
• two new educational institutions in the Chui region.
The implementation of the project is planned for 2026-2029.
The first phase of this project has already been completed, during which 30 educational institutions accommodating 8,060 students were built. The funding for this stage was also provided by the Saudi Development Fund.
The explanatory note to the draft law states that public discussions are not required, as it does not directly affect the interests of citizens and businesses.
