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Asian Development Bank allocates $ 641 million in loans and grants to Kyrgyzstan

The Board of Directors of the Asian Development Bank (ADB) has approved a new five-year partnership strategy with Kyrgyzstan. The press service of the ADB mission in the republic reported.

Within the framework of the strategy for 2018-2022, it is planned to provide the Kyrgyz Republic with $ 641 million in the form of grants and loans against guarantee of the state. Operations financed by loans secured by the state will be concentrated in the energy, transport, education, public sector, water supply and sanitation sectors, as well as in agriculture. Support of the private sector will be provided through finding of opportunities for development of agriculture business, energy and telecommunications.

To date, ADB has already provided financing to the republic in the amount of $ 1.7 billion in loans and grants. ADB is the largest multilateral development partner of Kyrgyzstan.

«We are committed to assisting the government of the republic in achieving its development goals. Our new program is focused on achieving higher and expanded economic growth, creation of jobs, and reduction of poverty, especially in rural areas,» said Candice McDeigan, Director of the ADB’s Permanent Mission in Kyrgyzstan.