finance 3 projects in energy sector, agricultural support, water supply improvement in Kyrgyzstan -->
First Vice Prime Minister Joomart Otorbayev on February 14 met with European Investment Bank's Managerial Advisor for Central Asia Umberto Del Panta, reported the Kyrgyz government's press service. This is the first visit of officials of the European Investment Bank to Kyrgyzstan following signing and ratification of the cooperation agreement between the Kyrgyz Republic and the European Investment Bank. Kyrgyzstan will be a priority country for the European Investment Bank in Central Asia in 2014. The Bank plans to start financing of 3 projects in energy sector, support of agricultural producers and improvement of water supply and waste treatment in Osh and Jalal-Abad before the end of the year, Mr. Umberto Del Panta said. The Bank is ready to provide funding for these projects on special highly concessional terms, as well as to provide grants and technical assistance for implementation of the projects, the Bank official said. The European Investment Bank is ready to allocate from 200 mln to 300 mln Euro annually to the Central Asian region, he added. First Vice Prime Minister Otorbayev emphasized the access to finances in Kyrgyzstan still remains one of the most critical problems for entrepreneurs and underlined importance of long-term financial resources for the national economy. "The sectors chosen by the European Investment Bank for funding are high priorities for Kyrgyzstan and we are interested in the soonest practical implementation of these projects," First Vice PM Otorbayev stressed. The European Investment Bank is one of the biggest world's financial institutions. Its shareholders are 27 Member States of the European Union. The capital of the Bank makes some 350 billion Euro. It has the highest credit rating. The agreement on cooperation between the European Investment Bank and Kyrgyzstan was signed in Brussels on 17 September 2013 during President Almazbek Atambayev's visit to the European Union. The European Investment Bank has also signed similar cooperation agreements and runs projects in Tajikistan and Kazakhstan.