The Council of the Eurasian Fund for Stabilization and Development (EFSD) resolved to provide US $100 million to the Kyrgyz Republic, the press service of the Eurasian Development Bank reported, Trend reports citing Kabar.
The loan will be used to implement the Kyrgyz Government and National Bank’s programme to counter the impacts of COVID-19 on the economy and the financial and social sectors.
The funds will be provided for twenty years, with an interest rate of 1% per annum and a grace period of ten years.
EFSD funds will help to implement measures aimed at ensuring fiscal and debt sustainability, conducting a balanced monetary policy, supporting the social sector, as well as restoring economic activity and supporting businesses in the Kyrgyz Republic during the pandemic.