DUSHANBE, June 17, 2016, Asia-Plus – The Parliament of Kyrgyzstan has endorsed a financing agreement for the Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000).
KirTAG
news agency reports the parliament endorsed the agreement on June 16.
Under the terms of the agreement, the International Development Association (IDA) provides 45 million U.S. dollars, including a US$38.25 million loan having a maturity period of 40 years and an interest rate of 0.75 percent, according to
KirTAG
. The European Investment Bank (EIB) will provide EURO 70 million in tranches of Euro 10 million each, and the Islamic Development Bank (IsDB) will provide a US$50 million loan having a maturity period of 25 years and an interest rate of 1.5 percent.
Open Joint-Stock Company National Power Networks of Kyrgyzstan plans to repay the loans during 15 years.
We will recall that the $1.17 billion project was unveiled in a ceremony in Dushanbe on May 12. Afghan Chief Executive Abdullah Abdullah, Pakistani Prime Minister Nawaz Sharif, Tajik President Emomali Rahmon, and Kyrgyz Prime Minister Sooronbai Jeenbekov attended the opening ceremony.
The CASA-1000 involves building a 1,222-kilometer power-transmission line to carry some 1,300 megawatts of electricity from hydropower plants in Kyrgyzstan and Tajikistan into Afghanistan (300 MW) and on to Peshawar in Pakistan (1,000 MW). The project is reportedly scheduled for completion by 2018 under the umbrella of the World Bank.
