DemirBank, within the framework of realization of priority energy projects for the country, has provided an investment loan in the amount of $17.5 million for construction of Kara-Kul hydroelectric power plant, and concluded guarantee agreement with the Financial and Credit Fund under the Ministry of Finance, under which the Fund, within the above amount, acts as a guarantor of payments on the investment loan.

The signing ceremony of the agreement was held on July 26 in the person of DemirBank’s General Manager Sevki L. Sarilar and Chairman of the Finance and Credit Fund Eldiyar Doolbekov.

According to General Manager Sevki L. Sarilar, this is a very important project for DemirBank, the realization of which will be another step towards energy independence of Kyrgyzstan.

“Today we signed an agreement on a very large project for $17.5 million. In the current conditions of energy deficit in the country and growing electricity consumption, we consider it particularly valuable to support this project. Kyrgyzstan has rich natural resources and great potential, and we are proud to contribute to the realization of such an important project for the country as the construction of the Kara-Kul HPP,” he said.

Mr. Sarilar noted that DemirBank is the first commercial bank to sign such an agreement with the Financial and Credit Fund. The bank, in turn, actively supports the state development strategy, which is aimed at ensuring economic growth and energy independence.

We would like to note that DemirBank is a socially responsible bank, one of the priority tasks of which is to contribute to the growth of welfare of the Kyrgyz people and the country’s economy. Over its 27-year history, the Bank has successfully supported the country’s landmark projects in various sectors of the economy: tourism, agriculture, construction, trade and other areas.