An agreement was reached with the Eurasian Fund for Stabilization and Development (EFSD) in 2021 to provide budget support to Kyrgyzstan. The Ministry of Finance reported.
When forming the republican budget for 2022, funds borrowed from EFSD of $80 million were included in the revenue part of the budget. This money will be used to finance the Tourism Development Fund, Kyrgyzindustry OJSC and the Entrepreneurship Support Fund. In addition, these funds will be used to provide budget lending to support the power industry and improve water management facilities.
«Financing will have a positive impact on the economic development of the republic, which in the future will have a multiplier effect and impact on the revenue side of the budget to return the funds raised,» the Ministry of Finance stressed.
