GrCF3 W1 - Bishkek District Heating

signed

The provision of a sovereign loan of up to EUR 10.1 million to the Kyrgyz Republic in two tranches (both to be committed at signing) of up to EUR 5.9 million and EUR 4.2 million (the "EBRD Loan"). The funds to be on-lent to the Bishkek city (the "City") for the benefit of Bishkekteploenergo (BTE), a municipal district heating company wholly owned by the City administration to modernize the district heating (DH) infrastructure in Bishkek (the "Project"). The Project will be co-financed by a concessional loan of up to EUR 5.9 million from the Green Climate Fund (the "GCF Loan") under the GCF Green Cities Facility, as well as by an investment grant of up to EUR 4.2 million from an international donor or the EBRD's Shareholder Special Fund (SSF). The EBRD Loan and the GCF Loan will have a tenor of 18 years, including a 4-year grace period under the EBRD Loan and a 6-year grace period under the GCF Loan. Tranche I EBRD Loan and GCF Loan will be disbursed pro-rata.