Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Kyrgyzstan

Geographic location where the impacts of the investment may be experienced.

Specific Location

Tyup, Karakol

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Nov 28, 2023

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Kyrgyzstan

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 48.64 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 44.2
Converted using 2023-11-28 exchange rate.

Loan Amount (USD)

$ 48.64 million

Project Cost (USD)

$ 48.64 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 22, 2024

Disclosed by Bank Oct 12, 2022

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the EBRD, the project consists of the provision of a sovereign loan of up to EUR 46.2 million to the Kyrgyz Republic (KR), for the benefit of the Ministry of Transport and Communications of the Kyrgyz Republic (MoTC), for the rehabilitation of the 32 km section of Tyup-Karakol road, located in the eastern part of KR along the northern shore of Issyk-Kul Lake.

The proposed project is an integral part of a longer 216.7 km Balykchy - Karakol Road rehabilitation programme, which in turn is the northern part of the Issyk-Kul Ring Road. Remaining 184.7 km were financed by the KR and Islamic development financial institutions.

The EBRD Loan will include financing of the road rehabilitation works and contract supervision services. After the Project completion, the whole Balykchy-Karakol Road should comply with the Category II international technical standard.

The Project will close the remaining infrastructure gap on 440 km long Issyk-Kul ring road which is part of CAREC 1 corridor and is one of the six priority transport links identified in the national Road Sector Development Strategy 2025, to foster economic development and connectivity as well as strengthen the KR's integration into regional markets.

Client is the Kyrgyz Republic. MoTC is the direct beneficiary of the project. The established Project Implementation Unit (PIU) within the MoTC will be responsible for the preparation and implementation of the project.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Implementing Agency - Ministry of Transport and Communications of the Kyrgyz Republic:

Sanjar Ibraimov - Head of Project Implementation Unit
Email: bishkekosh@gmail.com
Phone: +996 312 900 894
Website: www.piumotc.kg
Address: 42 Isanova street, Bishkek 720017, Kyrgyz Republic

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html