Hungarian company to join hydropower plant development in Kyrgyzstan

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Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Zhaparov met with the executive director of the Hungarian company A-Híd László Sal in relation to the design of small hydropower plants, according to a press release sent to the Budapest Business Journal.

Chairman Zhaparov claimed that the development and construction of small hydropower plants is one of the priority areas in the work of the country's Cabinet of Ministers. He argued that they are ready to implement projects which will create conditions for ensuring the energy independence of the country.

The Kyrgyz Republic's Ministry of Economy and Commerce,Ministry of Energy, the Hungarian-Kyrgyz Development Fund signed a cooperation agreement with A-Híd. According to the agreement, research will be carried out to select the most promising sites for the construction of small hydropower plants.

Within the framework of the agreement, the issue of financing projects in the field of small hydropower will also be researched via using the opportunities of the Hungarian-Kyrgyz Development Fund.

The Hungarian-Kyrgyz Development Fund was established to promote economic cooperation between the Kyrgyz Republic and Hungary. The organization focuses on establishing business contacts and cooperation with Hungarian companies.

The fund provides concessional lending to self-sustaining projects in priority sectors of the domestic economy. Its authorized capital is USD 16 million.

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