The Zhogorku Kenesh (Parliament) approved a grant agreement with the Asian Development Bank to support Kyrgyzstan in emergency situations. The decision was made at its meeting.
As Deputy Finance Minister Nurbek Akzholov previously noted, the Asian Development Bank (ADB) will allocate a grant of $28.2 million to support the republic in emergency situations.
According to the agreement, the funds will be allocated through two mechanisms:
1. Provision of budget support in the event of moderate emergencies. The grant amount is $13.2 million. The funds will be allocated to families affected by the emergency.
2. Issuance of disaster bonds. This mechanism is designed to provide quick liquidity in response to rare but particularly devastating disasters caused by strong earthquakes and floods. The grant amount is $15 million.
Members of Parliament approved the bill without debate.
