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Kyrgyzstan: The Council of the Eurasian Fund for Stabilization and Development

2015/07/09

The Council of the Eurasian Fund for Stabilization and Development has approved an investment loan worth $100 million to Kyrgyzstan.

The loan will finance the second stage of the rehabilitation project for the Toktogul Hydropower Plant, EFSD said on July 7.

EFSD, formerly the EURASEC Anti-crisis Fund, is an international financial institution established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan with the goals of assisting its member states in overcoming the consequences of world financial crisis, ensuring their long-run economic stability, and fostering the economic integration of EFSD member nations.

The fund is in charge of assisting member states with the following instruments: financial credits, available to governments only; investment loans, provided either to EFSD member states or to companies implementing interstate and national investment projects; and grants to finance government programs in social sector.

The EFSD Resource Manager coordinates its activities with other international financial institutions and donor clubs.

The Toktogul HPP, a power plant located on the Naryn River of Jalal-Abad Province in Kyrgyzstan, has an estimated capacity of 1,200 megawatts with four 300-MWt hydraulic turbogenerator units. It is Kyrgyzstan's major power plant and supplies about 40 % of the Central Asian national's electricity.

The Toktogul Hydropower Plant Rehabilitation project involves the replacement of the second and fourth turbine-generator units with replacement/rehabilitation of auxiliary systems and powerhouse equipment at Toktogul HPP.

The project for the reconstruction of Toktogul HPP consists of three phases. The initial phase is being implemented by the Asian Development Bank, which is funding the replacement of electromechanical equipment and the replacement of generator circuit breakers, excitation systems and control cable lines of 500 kV.

The second phase of reconstruction envisages the replacement of the second and fourth units of the station with the replacement or repair of auxiliary systems and equipment. The third stage envisages the replacement of the initial and third units of the station.

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