Eurasian Fund for Stabilization and Development to allocate USD 80 mln to Kyrgyzstan

Bishkek, March 9, 2022 . / Kabar /. The Eurasian Fund for Stabilization and Development (EFSD) will allocate $80 million to Kyrgyzstan, the press service of the republic’s Finance Ministry reported. According to the generally accepted world practice, developing countries in the world receive financial assistance from international development partners in two directions: for investment projects and for budget support. Thus, as part of this practice, an agreement was reached in 2021 with the EFSD to provide budget support to the Kyrgyz Republic in accordance with the Development Program of the Kyrgyz Republic for the medium term. The above funds will be used to support the economic sector of the republic: - financing of the Tourism Development Fund in order to stimulate the tourism industry; - financing of Kyrgyzindustry OJSC in order to develop and support the industry of the Kyrgyz Republic; - financing of the Entrepreneurship Support Fund (granting soft loans for small and medium-sized enterprises); - budgetary lending to support the energy sector and improve water facilities.