BAKU, Azerbaijan, November 6. The reconstruction of the Balbay-Batyr to Karakol road, along with other EBRD projects in Kyrgyzstan, falls under the direct supervision of the bank, Zsuzsanna Hargitai, Managing Director of EBRD for Central Asia, said, TurkicWorld reports.

She made the statement during a meeting with the Chairman of Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, on the sidelines of the National Development Forum 2023: "Poverty and Inequality."

This over 30-kilometer road is part of a 440-kilometer circular road around Issyk-Kul ('Balykchy-Karakol-Balykchy'). The project was reviewed by the EBRD in December 2022, with project funding set at 46.2 million euros and an approval date expected by the end of November 2023.

The EBRD director expressed readiness to support projects of mutual interest. During the meeting, the parties discussed the progress of road, energy, irrigation, and infrastructure projects, with a particular focus on the climate agenda.

In turn, Japarov emphasized that the EBRD is a significant development partner for Kyrgyzstan, providing substantial support for projects in priority sectors of the economy.

The EBRD's cumulative investments in Kyrgyzstan amounted to 915 million euros across 231 projects, as of September 30.