Kyrgyzstan within 5 years will pay back to Huawei on Smart City project– Isakov

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Bishkek, Jan. 11, 2018 / Kabar /. Kyrgyzstan within 5 years will pay back the invested funds to Chinese company Huawei that will fully realize the Smart City project, Kyrgyz Prime Minister, Sapar Isakov announced this at the signing ceremony of the Investment Agreement between the Government of the Kyrgyz Republic and the Huawei Technologies CO., Ltd.

"After the equipment is installed at 70 intersections in Bishkek and Osh, the government will start paying back in equal parts within 5 years the financial resources to the consortium. Preliminary analysis showed that we could handle before this deadline, but we were reinsured," he said.

Isakov said that all the funds received from fines will be proceeded to Kyrgyzstan. "That is, we will generate all the money ourselves," he said, adding that as soon as the program is implemented, it will work through 112 service.

Whereas, Chinese Ambassador to the Kyrgyz Republic Xiao Qinghua stressed that China is always ready to support Kyrgyzstan in all initiatives aimed at sustainable development.

Within the framework of the investment agreement, work will be carried out to prepare design estimates, supply equipment, construction, integration, and maintenance of the Smart City project in Bishkek, Osh and on Bishkek-Osh, Bishkek-Cholpon-Ata , Bishkek-Manas highways. Amount and timing are included in the Terms of Reference, which is an integral part of the Agreement.

The volume of investments is 60 million dollars.

Investors will also be responsible for training specialists. Huawei must ensure the protection of personal data, as well as the requirements for cybersecurity in accordance with the legislation of Kyrgyzstan.

The project will last for 1.5 years.

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