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Sadyr Japarov urges EBRD to support private sector in Kyrgyzstan

President of Kyrgyzstan Sadyr Japarov met withOdile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD) in online format. Press service of the head of state reported.

The parties discussed issues on improving the level of cooperation between Kyrgyzstan and the EBRD and further prospects for expanding areas of interaction.

Sadyr Japarov told about plans to create a special council under the president for an open dialogue with business representatives, discussion and solution of problems of entrepreneurs and investors. He invited the EBRD to participate in the creation of the council and support it.

The head of state stressed that Kyrgyzstan is open for cooperation and attaches great importance to the development of partnerships with the EBRD, expressing his readiness to personally make efforts to enhance cooperation in implementation of large investment projects.

Sadyr Japarov noted that the state pays special attention to creation of favorable environment for investors in Kyrgyzstan.

The head of state called on the EBRD to activate and mobilize investment resources for implementation of infrastructure projects in the energy sector, mining and light industry, agriculture, and tourism.

According to him, the energy sector requires large-scale technological modernization, which requires significant investments. In this regard, the priority in this area is to launch new capacities through the development of renewable energy sources and creation of economic incentives.

The President noted the importance of implementation of joint investment projects in the field of renewable energy sources and drew attention to support for small and medium-sized businesses.

As Sadyr Japarov stressed, during the crisis caused by the coronavirus pandemic, small and medium-sized businesses in Kyrgyzstan need comprehensive support, especially highly concessional financing. He urged the EBRD to consider introduction of new financial instruments for entrepreneurs, in addition to traditional lending, to support the private sector in the country.

The head of state is sure that Kyrgyzstan and the EBRD together will be able to implement anti-crisis measures to stabilize the economy and minimize economic risks for the country.

EBRD President Odile Renaud-Basso noted that the bank has always actively invested in Kyrgyzstan, especially in the banking and private sectors, tourism. She added that they have many plans in these areas.

She welcomed the actions of Kyrgyzstan to bring business out of the shadows, stressing that the EBRD intends to work in the energy sector, implement projects that will help create new jobs, plans to help in the textile and tourism sectors, and provide support in supply of water to the population.