Signing ceremony. Photo: Press service of the Ministry of Finance of Kyrgyzstan
The World Bank has granted the government of Kyrgyzstan $101.5 million in budget support. The funds were allocated under the project “First Development Policy Financing for Sustainable and Inclusive Growth,” according to the press service of the country’s Ministry of Finance.
The agreement was signed on July 8 by the World Bank’s Regional Director for Central Asia, Hugh Riddell, and Kyrgyz Finance Minister Almaz Baketaev.
In his address, Baketaev thanked the international financial institution for its consistent support in implementing key reforms and infrastructure initiatives. He noted that the World Bank’s contribution is a crucial factor in improving citizens’ quality of life and strengthening the country's socio-economic potential.
The ministry’s press release stated that the signing of the agreement marked another step toward deepening cooperation between the World Bank and Kyrgyzstan. Both parties expressed confidence in the continued development of a mutually beneficial and sustainable partnership.
The World Bank is also assisting the country in key economic sectors, including energy. In early June, Prime Minister and Head of the Presidential Administration Adylbek Kasymaliev met with World Bank Executive Director Béatrice Maser. The talks covered several areas of collaboration, particularly the nearly completed feasibility study for the Kambarata-1 hydropower plant and an environmental and social impact assessment for the project.
