EDB delegation to Bishkek holds consultation on aligning the Republic with the Bank’s members

A meeting in Bishkek has wrapped up for a joint working group discussing the parameters of cooperation between the Eurasian Development Bank (EDB) and the Republic of Kyrgyzstan, and the terms under which that country may become an EDB member.

The Kyrgyz side was represented in negotiations by members of government, the Justice Ministry, the Finance Ministry, and the State Committee for State Property. The EDB’s delegation was led by Mr. Bolat Zhamishev, the Deputy Chairman of the Bank’s management board.

The goal of the meeting between the government officials and Bank representatives was the final approval of the technical terms and conditions of Kyrgyzstan's inclusion as one of the EDB’s founders, in addition to Russia and Kazakhstan. It is expected that the republic's membership in the EDB will be submitted for final approval by the country's government by the end of the year.

Today, Russia represents one-third of the EDB, and Kazakhstan represents the remaining one-third. At present, active negotiations are underway to see Armenia, Belarus and Tajikistan become members of the EDB.

“Kyrgyzstan’s priorities in economic development for 2007 - 2010 match the EDB’s integration plans and strategy,” said Mr. Zhamishev. “We will give special attention to economic industries such as production and energy distribution, transport, construction, agriculture, the mining industry and SMEs in the republic. First and foremost, the EDB is interested in taking part in financing the construction of the Kambaratinsk hydroelectric plants 1 and 2 along the Naryn River.”