Kyrgyzstan plans to pay off its external debt, which now amounts to over $5 billion, by 2035, the country's President Sadyr Zhaparov said during an interview with local media, Trend reports.

"We shall repay earlier debts from the national budget with the support of the people, as there were previously no self-sustaining projects. All the money got poured away like water in sand," he said.

According to him, Kyrgyzstan's present loans are for self-sustaining projects.

"For example, the Kabambarata-1 hydroelectric facility will cost around $5–6 billion to construct," Zhaparov noted.

He explained that this project will be profitable within 13–15 years after completion and commissioning. When it comes time to repay the debt for this project, it will not burden the national budget or the people.

"There are small and medium-sized hydroelectric projects that will pay off in 7-8 years. We also need to put money into them. We're now contacting the Global Climate Fund. We will completely shift to green energy with their help," Zhaparov said.

He also noted that there are many projects in other areas. Kyrgyzstan is implementing them with private investors and, as far as possible, using the budget.