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Kyrgyzstan will get $25 million grant from ADB for implementation of second investment climate improvement program.

Kyrgyzstan will get $25 million grant from the Asian Development Bank (ADB) for the implementation of 25 events within the second investment climate improvement program, said Minister of Economy Artyom Novikov speaking at the Parliament meeting on Thursday.

Novikov said the Ministry is submitting to the Parliament's consideration a draft grant agreement between the Kyrgyz Republic and the Asian Development Bank on the Second Investment Climate Improvement Program (Subprogram 3) signed 18 December 2017 in Bishkek.

Subprogram 3 includes 25 events, he said.

The program aimed at improvement of the investment climate is under way in Kyrgyzstan since 2008.

As a result of the implementation of the Subprogram 3, Kyrgyzstan will receive grant aid of $25 million, which will be used to support the state budget, entrepreneurship, etc., Novikov said.

The Second ICIP aims to improve the investment climate for the private sector in the Kyrgyz Republic. It supports increasing access to finance, enabling private participation in infrastructure, diversifying export products and markets, encouraging diversified foreign direct investment, improving skills to match market needs, increasing transparency in government, and reducing the costs of doing business, according to the ADB.

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Publication:AKIpress Central Asian News Service
Geographic Code:9KYRG
Date:Dec 21, 2017
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