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ADB approves $56 million loan, grant to Kyrgyzstan
The Asian Development Bank (ADB) on Monday said that it has approved the funding of $56 million to Kyrgyzstan
Manila: The Asian Development Bank (ADB) on Monday said that it has approved the funding of $56 million to Kyrgyzstan to improve wastewater management and enhance sustainable and inclusive tourism in the Issyk-Kul region, renowned for its tourist appeal and importance.
The funding comprises a $25 million concessional loan and a $31 million Asian Development Fund (ADF) grant. The ADF grants are made to ADB's poorest and most vulnerable members, reports Xinhua news agency.
The ADB's project promises to upgrade the wastewater facility while improving tourism infrastructure in Cholpon-Ata, a resort town that hosts most of Issyk-Kul Lake's visitors but grapples with an ageing wastewater network.
According to the ADB, a new wastewater treatment plant, pumping stations, and a museum are among the planned projects to preserve the environment and promote tourism in the region.
The ADB added that the project will also support local authorities in developing a climate-resilient tourism master plan for Cholpon-Ata.
