ADB to Allocate $50 Million to Support Economic Reforms in Kyrgyzstan

It has been reported by 24.kg that the Asian Development Bank (ADB) will allocate $50 million to support economic reforms in Kyrgyzstan.
According to a statement from the ADB, the funds aim to improve the fiscal system and public administration. The project’s primary goal is to help the country transition to environmentally-friendly technologies, adapt to climate change, and integrate gender aspects into budgetary processes. Of the total funding, $43 million will be a program loan, and $7 million will be provided as a grant.
“Kyrgyzstan’s economy is vulnerable to economic crises due to limited resources and weak governance. The government is committed to strengthening financial institutions to support key sectors of the economy,” ADB stated.
The ADB program aims to improve corporate governance of state-owned enterprises, tax policy, and transparency in public administration. ADB Director General for Central and West Asia, Eugene Zhukov emphasized that the initiative promotes stable and inclusive economic growth. This year marks 30 years of cooperation between ADB and Kyrgyzstan, under which 217 projects worth $2.6 billion have been implemented. The ADB continues to support the country in achieving sustainable economic growth and fighting poverty.

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