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France plans to open credit line, provide grant to Kyrgyzstan

Kyrgyzstan Materials 17 March 2023 13:16 (UTC +04:00)
France plans to open credit line, provide grant to Kyrgyzstan
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, March 17. France plans to open a credit line for up to 60 million euro for the implementation of priority projects in Kyrgyzstan, Trend reports, with reference to the Ministry of Finance of Kyrgyzstan.

This agreement was reached following the meeting of the Ambassador of Kyrgyzstan to France Sadyk Sher-Niyaz, and Deputy Finance Minister of Kyrgyzstan Ruslan Tatikov with the Secretary General of the Paris Club (informal group of official creditors whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries) Philippe Guyonnet Duperat, and the Department Director of the Ministry of Economy and Finance of France Vincent Pringot in Paris.

According to the Ministry, France also is going to allocate a grant for up to 500,000 euro for the preparation of a feasibility study and business plans of the projects.

The meeting was initiated by Kyrgyzstan in order to implement the course of Kyrgyzstan’s President Sadyr Japarov on the exchange of public external debt for the implementation of green initiatives.

The representative of Kyrgyz Ministry spoke about the ongoing work with all bilateral lenders concerning exchange of the debt for projects in the field of environmental protection, ecology, as well as for socially significant projects.

“In addition, it was proposed to the Paris Club to participate in the implementation of green projects through the creation of a Trust Fund in the Kyrgyzstan, which will make a joint contribution to improving the environmental situation in the world,” the Ministry of Finance said.

President of Kyrgyzstan Sadyr Japarov proposed to exchange the country's external debt for the implementation of green initiatives in January 2023.

The president said it would be beneficial if the funds provided for the repayment of external debt were directed to support green initiatives.

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