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Published: 23 December 2014 г.
Bank raises over EUR 10 million to modernise passenger transportation in Osh. EBRD funding of over EUR 10 million will help modernise public transport in Osh by putting 24 new buses and 20 new trolleybuses on the roads of the second largest city in the Kyrgyz Republic and the largest city in the southern region of the country, as well as creating its first formal ticket system.
Apart from overhauling the existing system to improve passenger transportation, the EBRD aims to improve employment opportunities for women working in the public transport sector in line with the Bank’s Strategic Gender Initiative.
The Bank has provided a 12-year sovereign loan of EUR 5.7 million to the Kyrgyz Republic which is being on-lent to the city for the benefit of the Osh Auto Transport Company. In addition, the Board of the EBRD agreed to make a EUR 3.1 million capital grant from the Bank’s Shareholder Special Fund to help make the project financially viable.
The city’s transport company will be able to draw an additional EUR 1.2 million in non-refundable technical cooperation funds from the EBRD to implement this ambitious modernisation programme and improve its financial and operational standing.
“These investments are very important for the Osh city and will have very positive effect on social and economic development of our population”, said Aitmamat Kadyrbaev, Mayor of Osh.
“Supporting urban transport is one of the priorities of the EBRD in the Kyrgyz Republic. The new fleets and refurbished infrastructure in the country’s second largest city will improve the quality of public transport services, while new ticketing system will increase fare collection,” said Ekaterina Miroshnik, ERBD Director for Infrastructure Russia and Central Asia.
Preparatory work to make the signing possible was separately financed by the Czech Republic, one of the EBRD’s 64 shareholders.
To date, the EBRD has committed about EUR 509 million in various sectors of the Kyrgyz economy, mobilizing additional investments from other sources of financing of over EUR 557 million in 116 projects.