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Parliamentary committee approves agreement on EU's 30 million Euro financial assistance for Kyrgyzstan

June 24, 2014

The parliamentary committee on economic and fiscal policy on June 23 approved the draft agreement on 30 million Euro assistance of the European Union.

These funds will be spent for budget support. 15 million Euro will be provided as a grant, another 15 million Euro will be extended as a loan. The maturity period is 20 years, the grace period 10 years.

The assistance will be provided in 2 installments.

"The first tranche will be obtained upon implementation of the procedures, the second tranche will be obtained upon ratification," Finance Minister Olga Lavrova said.

The National Bank will serve as observer in the project, National Bank Chairman Tolkunbek Abdygulov said.

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Source: AKIpress News Agency (Kyrgyz Republic)

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