A draft law ratifying the loan agreement between Kyrgyzstan and the Saudi Fund for Development for Public School Construction Project (Phase 2) has been submitted to the Zhogorku Kenesh (Parliament). The document provides for the approval of the contract signed on October 9, 2025, in Bishkek.
According to the draft, the Ministry of Finance must notify the Saudi Fund for Development upon completion of all internal procedures. The Kyrgyz Republic plans to attract 187.5 million Saudi riyals (equivalent to $50 million) for 25 years, including a five-year grace period. The loan carries an interest rate of 1.5 percent per annum.
The funds will be used for the construction of:
• five new schools and seven additional school buildings in the capital;
• two new schools in Chui region.
The project is scheduled for 2026-2029.
Its first phase was completed earlier: 30 educational institutions for 8,060 students were built across the country. Funding was also provided by the Saudi Fund for Development.
The background statement notes that the draft law does not require public discussion, as it does not directly affect the interests of citizens and businesses.
