Kyrgyz Minister of Economy notes positive experience of cooperation between Kyrgyzstan and EBRD

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Bishkek, May 10, 2018. / Kabar /. Minister of Economy of Kyrgyzstan Oleg Pankratov participated in the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD), which was held in Amman, Jordan, May 8-10, 2018, the press service of the Ministry of Economy of the Kyrgyz Republic reported.

On the margins of the Annual Meeting, bilateral meetings were held with Executive Director for CA and Turkey, Natasha Khanzhenkova, Infrastructure Director for Russia, Central Asia and Mongolia Ekaterina Miroshnik, as well as EBRD Secretary General Enzo Quattrociocche, where the sides discussed the current situation, further perspectives of cooperation with the EBRD and specific issues of the Bank's activities in the framework of projects implementation in the Kyrgyz Republic, as well as summarized the results of the Bank's activities over the past time, and pointed out the achievements and successes in collaboration of the Bank with the countries of operations.

During the Business Forum, five key topics were discussed that form a new impetus for the development of the economy: employment, financial sector reforms, renewable energy development prospects, sustainability strategy and investment promotion.

Within the framework of the forum, Pankratov noted the positive experience of cooperation between the Kyrgyz Republic and the EBRD, in particular the Bank's great contribution to promoting the competitiveness of the private sector, and the important role of the EBRD as a catalyst for private investment in the country.

Since the beginning of its operations, the EBRD has invested nearly $ 700 million in the Kyrgyz Republic through some 166 projects in various sectors of the economy. Of these, in the energy sector 33%, in infrastructure 32%, in financial 20% and in industry, trade and agro-sector 15%. At the same time, the share of the private sector is almost 68%.

The Bank's priorities in the Kyrgyz Republic include assisting the state in conducting reforms to improve the investment climate, strengthening municipal and infrastructural services in small towns through commercialization and private sector participation, supporting the development of private enterprises and local financial institutions, strengthening the financial sector through lending to local currency.

Thus, the EBRD focuses on the development of small and medium-sized businesses, improving the investment climate and increasing access to finance. These tasks fully coincide with the tasks facing the Government of the Kyrgyz Republic as a whole and the Ministry of Economy in particular.

To date, the EBRD is the only international organization in which the Kyrgyz Minister of Economy is the Governor from Kyrgyzstan.


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