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World Bank funds in projects in Kyrgyzstan could be redistributed

President of Kyrgyzstan Sooronbai Jeenbekov met with the Head of the World Bank’s office in Kyrgyzstan,Bolormaa Amgaabazar. The Information Policy Department of the Presidential Administration reported.

The parties reportedly discussed prospects of cooperation between Kyrgyzstan and the World Bank for the coming years, the priority areas of partnership. An exchange of views on the situation with the spread of coronavirus in the world took place.

The head of state noted that the World Bank projects deal with all key areas of development that are important for Kyrgyzstan in terms of implementing strategic goals and upcoming tasks to ensure economic growth and welfare of citizens.

«Sooronbai Jeenbekov stressed that the economy of Kyrgyzstan, along with other countries of the region, was negatively affected by the spread of coronavirus in the world. He added that this situation impedes the timely implementation of the country’s development plans and forces to revise budget expenditures. The President invited the World Bank to consider the possibility of making adjustments to the financing of projects in Kyrgyzstan, taking into account the current situation in the world and the country,» the statement says.

Bolormaa Amgaabazar noted that active work was ongoing in this direction with the relevant state bodies of the country, the issue of redistributing part of the funds from other projects to support the health system has been resolved.

Negotiations were also held on the allocation of funding for the emergency response to coronavirus project, which is aimed at preventing a pandemic in Kyrgyzstan.

Bolormaa Amgaabazar told the World Bank has formed a fund to help developing countries in fight against coronavirus with a total budget of $ 160 billion. In addition, the International Finance Corporation, a member of the World Bank Group, intends to support private companies that have been affected by the economic recession.

Recall, Kyrgyzstan will get $ 120.9 million from the International Monetary Fund to combat coronavirus.

As of today, there are 58 COVID-19 cases in Kyrgyzstan. A state of emergency and curfew were imposed in the territory of Bishkek, Osh and Jalal-Abad cities, Nookat and Kara-Suu districts of Osh region, Suzak district of Jalal-Abad region.