News Column

International donors increase funding for Kyrgyzstan up to $545 million

July 23, 2014



The Kyrgyz government's press service today e-mailed the information about outcomes of the work of the government for 100 days.

The World Bank increased funding up to $200 million. The Asian Development Bank increased financing up to $250 million, European Bank for Reconstruction and Development up to 70 million Euro.

The overall sum of projects funded by the World Bank will make around $200 million in 2014 fiscal year, .

The Executive Board of the International Monetary Fund (IMF) on June 26 completed the sixth and final review of the Kyrgyz Republic's economic performance under the program supported by a three-year, SDR 66.6 million (about US$106 million at the time of approval) arrangement under the Extended Credit Facility (ECF). The completion of the review enables an immediate disbursement of an amount equivalent to SDR 9.516 million (about US$14.7 million). The decision was taken without a formal Board meeting.

The Kyrgyz government completed implementation of the programs on improvement of investment climate with the Asian Development Bank in June 2014 and public sector reform with the World Bank. These agreements were ratified by the Parliament. The overall budget support amounted to $47 million, of which $34 million is a grant.


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Source: AKIpress News Agency (Kyrgyz Republic)


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