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ADB to allocate $ 25 million to Kyrgyzstan to improve investment climate

The Board of Directors of the Asian Development Bank approved $ 25 million program grant to continue efforts to improve the investment climate in Kyrgyzstan and more effectively involve the private sector in the country’s economy. Press service of the ADB office in the Kyrgyz Republic reported.

«The private sector has an important role to play in boosting the economy of Kyrgyzstan through diversified economic growth and creating jobs in more technologically advanced industries. The ADB grant will expand access to financial services for small businesses, improve prospects for private sector participation in infrastructure development, including through public-private partnership, diversify trade and investment, increase transparency and ease doing business. All these actions will make the country a more attractive place for investment and job creation,» Priyanka Sud, ADB Senior Specialist in the financial sector, said.

The share of small and medium-sized enterprises is one of the largest in the Kyrgyz economy. It accounts for about 40 percent of the republic’s GDP and almost 20 percent of total employment.

Grant funds will be also transferred to the Guarantee Fund to facilitate business access to lending. Efforts to further develop the public-private partnership program in the country will be supported.