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World Bank to allocate more than $ 300 million to Kyrgyzstan

On November 13, the Board of Executive Directors of the World Bank approved a new Partnership Framework Program (RPF) between the World Bank and Kyrgyzstan for 2019-2022. The press service of the World Bank reported.

It is noted that the program includes conclusions from consultations with all development partners. The program provides funding for projects in Kyrgyzstan in the amount of more than $ 300 million.

«As part of the program, the World Bank Group will provide advisory support in developing strategic documents and provide funding for sustainable growth, employment and raising the standard of living of Kyrgyz citizens over the next four years,» said Lilia Burunciuc, World Bank Regional Director for Central Asia.

Key areas of the partnership program were proposed on the basis of a large-scale study Comprehensive Diagnostics of the Country, which studied the main difficulties and opportunities of Kyrgyzstan in sustainable poverty reduction and sustainable economic growth.

According to the head of the World Bank’s office in Kyrgyzstan, Bolormaa Amgaabazar, since the beginning of the 21st century, the main factors of economic growth have been gold mining and remittances of labor migrants.

This model provided economic growth of 4.5 percent in 2000–2016, but these factors have largely exhausted themselves. Kyrgyzstan needs a more dynamic and efficient growth model.

Bolormaa Amgaabazar

The World Bank Group will continue to contribute to better state expenditure management, more effective government work and accountability.