The EDB takes part in a meeting of the President of the Kyrgyz Republic with donor institutions and development partners

02 November 2018

Bishkek, 2 November 2018. Sooronbay Jeenbekov, President of the Kyrgyz Republic, met with representatives of the donor community and economic development partners at the Ala-Archa state residence. Serik Primbetov, Director for the Kyrgyz Republic at the Eurasian Development Bank (EDB), took part in the meeting.

He told the head of state and participants about the Bank’s operations in the country, the progress of energy and infrastructure projects that are important to the nation’s economic and social development, health grants, and support extended to small and medium-sized enterprises through second-tier banks.

Sooronbay Jeenbekov thanked the partners for their assistance for the country and expressed his special gratitude to the EDB. He also said that the National Development Strategy of the Kyrgyz Republic for 2018-2040 was approved. The document lists investment projects with confirmed sources of financing.

The EDB is operating in Kyrgyzstan as the Resources Manager of the Eurasian Fund for Stabilization and Development (EFSD). The total amount of funds extended by the EFSD to the nation approximates US $330 million. The Bank is working with the country’s financial institutions by providing targeted loan facilities, in particular to support small and medium-sized businesses. Its current project portfolio in the Kyrgyz financial sector comprises agreements to the tune of US $70 million.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

Read more at  http://eabr.org/

The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed as the EurAsEC Anti-Crisis Fund on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The EFSD assists its member countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)         

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)         

pressa@eabr.org

www.eabr.org

Back to the list