President of the Asian Development Bank (ADB) Masatsugu Asakawa confirmed the ADB support for the Kyrgyz Republic during an online meeting with the Deputy Chairman of the Cabinet of Ministers, Minister of Economy and Finance Akylbek Japarov.
«The difficulties caused by the coronavirus continue to pose significant risks to the economic recovery of the Kyrgyz Republic, while new waves of disease or delays in vaccinations may also affect economic growth. ADB intends to continue to support the Kyrgyz Republic, especially in the areas of sustainable growth, inclusiveness, and regional cooperation. We are also ready to support reforms in the energy, transport and social protection sectors,» Masatsugu Asakawa said.
The parties discussed ADB’s planned operations in the country, including projects to promote economic diversification and landslide risk management. The ADB chief stressed the importance of the government’s commitment to improving the investment climate for a sustainable recovery.
As part of its 2021 operational program, ADB will support structural and economic reforms in the Kyrgyz Republic, including in the energy sector, where the bank will continue to help the government advance sustainability and energy efficiency.
ADB is preparing a Country Partnership Strategy (CPS) for 2023-2027, which will be aligned with the country’s medium-term national strategy. Under the current strategy, it supports economic diversification, infrastructure development, access to public and social services, job creation and promotion of climate resilience.
The ADB President praised the government’s successful implementation of anti-crisis measures related to the COVID-19 pandemic. Last year, ADB approved over $ 70 million in support of the Kyrgyz Republic in the fight against the COVID-19 pandemic.
The amount includes a $ 50 million loan and grant package approved in May and a $ 20 million emergency aid to strengthen the health sector approved in June.
During the peak of the pandemic, which fell between April and July 2020, ADB technical assistance also helped to supply personal protective equipment, oxygen concentrators, and ventilators. The bank, together with the United Nations Development Program, prepared a socio-economic study on the impact of the pandemic on poor and vulnerable communities in the Kyrgyz Republic.