EBRD to develop Kyrgyz local capital markets
European Bank for Reconstruction and Development will assist Kyrgyzstan in developing local capital markets and reducing usage of foreign currency in financial system as it was voiced by representatives of EBRD at the press conference today, 24.kg reported.
Reportedly, "the Bank will intensify the political dialogue with state agencies about support of financing in local currency and development of local capital markets." It is expected that it will help the Government of Kyrgyzstan "to strengthen local domestic financing sources and cut usage of foreign currency in domestic financial system of the country."
Generally, EBRD will continue support of "micro, small and medium enterprises as well as development of important infrastructure projects." In 2010 the Bank had signed 8 investment projects to the amount of $112.5 million.
At the present as they say in EBRD it "committed to finance projects in various spheres of Kyrgyz economy to the amount of approximately $450 millions mobilizing additional investments to the amount of around $650 millions over more than 70 projects." Around 80 projects are investments to the development of the private sector of the country.