Asian Development Bank allocates $25 mln or Kyrgyz private sector investment climate

The programme is in line with the government’s National Sustainable Development Strategy to diversify the economy by promoting private sector investment
Asian Development Bank allocates $25 mln or Kyrgyz private sector investment climate
01 August 11:24 2016 Print This Article

The Asian Development Bank (ADB) has approved on Monday a $25 million programme to develop private sector investment in the Kyrgyz Republic, as part of the government’s efforts to diversify the economy, the ADB said in a statement.

“The assistance will help expand access to financial services, diversify trade and investment, improve public infrastructure and services, and lower the costs of doing business,” quotes the statement Priyanka Sood, a senior financial sector specialist with ADB’s Central and West Asia Regional Department.

The Republic has received some $1.4 billion in loans for the education, finance, transport, and energy sectors since joining the ADB in 1994.

The ADB, located in the Philippines capital of Manila, was established in 1966 to reduce poverty in Asia and the Pacific. The bank comprises 67 members in Asia, Europe and North America. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.

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