EBRD Expands Support for $6 Billion Kambarata Hydropower Project in Central Asia

Vice President of the European Bank for Reconstruction and Development (EBRD) Matteo Patrone has announced plans to expand EBRD's participation in the construction of the Kambarata Hydropower Plant-1 (HPP-1), one of the flagship projects under the EU’s Global Gateway initiative.

The EBRD has signed memoranda of understanding with the Energy Ministers of Kazakhstan, Kyrgyzstan, and Uzbekistan, marking a major step toward regional energy cooperation, The Caspian Post reports via Kyrgyz media.

With a total budget of nearly $6 billion, Kambarata HPP-1 is set to become a cornerstone of sustainable hydropower development in Central Asia.

Patrone emphasized that the involvement of multilateral development banks is essential for implementing such a large-scale infrastructure project. He revealed that the EBRD is considering providing three sovereign guaranteed loans of $500 million each to the participating countries.

“We plan to allocate funds to each participating state once a full technical assessment is completed and intergovernmental agreements are adopted to move the project forward,” Patrone stated.

The project aims to strengthen regional energy security, promote renewable energy generation, and support economic integration across Central Asia through sustainable, cross-border infrastructure.