Kyrgyzstan to receive $50 million loan from Saudi Arabia for new schools

Kyrgyzstan is set to receive 187.5 million Saudi riyals, equivalent to about $50 million, from Saudi Arabia to support the construction of new educational facilities.

According to Caliber.Az, citing multiple Kyrgyz media outlets, the funding is envisaged under a draft law on the ratification of a loan agreement between the two countries that has been submitted to the Jogorku Kenesh, Kyrgyzstan’s parliament.

The loan will be extended for a total term of 25 years, including a five-year grace period, and will carry an annual interest rate of 1.5%.

The allocated funds are planned to be used for the construction of five new schools and seven additional school buildings in Bishkek, as well as two schools in the Chuy Region.

The project is scheduled to be implemented between 2026 and 2029.

An earlier phase of the initiative has already been completed, resulting in the construction of 30 schools across Kyrgyzstan.

By Tamilla Hasanova