Loans with fixed interest rate for modernization of water supply system suggested in Parliament instead of EBRD's floating interest rate

• Published date: 16 January 2023
• Publication title: Central Asian News Services

MP Janybek Kydykbaev suggested consideration of loans other than offered by the European Bank for Reconstruction and Development.

The Parliament Committee for Agrarian Policy, Water Resources, Ecology and Regional Development is considering the loan and grant agreements between Kyrgyzstan and the European Bank for Reconstruction and Development on Climate Resilience Water Supply Project, which were signed on July 8, 2022 in London.

The lawmaker has asked if Kyrgyztan obtained loans with floating interest rate before.

Deputy Finance Minister Ruslan Tatikov said the country obtained such loans before, one of them was obtained for Taza Suu Project. That loan was obtained for 15 years.

"Practice shows the interest rate does not change...