World Bank ready to allocate USD 600 mln to Kyrgyzstan in coming years

Bishkek, Oct 5, 2022 / Kabar /. The World Bank is ready to allocate USD 600 million to Kyrgyzstan as part of the Partnership Framework, Managing Director of the International Bank for Reconstruction and Development and the International Development Association Axel von Trotsenburg, speaking today at the Bishkek Economic Forum. He said that the funding is for the next five years and is aimed at restoring the economy of Kyrgyzstan. “The Kyrgyz Republic survived the crisis caused by the COVID-19 pandemic, and today it is solving the problems caused by the events in Ukraine, which are expressed by high inflation. We have gathered here today to jointly develop a strategy to restore the economy of Kyrgyzstan,” Axel van Trotsenburg said. He noted that practice has shown the ineffectiveness of financing in small volumes, and therefore international institutions are working on a strategy for providing support in large volumes. Earlier, representatives of the World Bank at a meeting with deputies of the Jogorku Kenesh announced their readiness to allocate USD 50 million for the development of the Batken region. Financing will be carried out within the framework of the Regional Economic Development project. This program is designed for the next four years and is aimed at sustainable economic growth.