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Kyrgyz minister proposes EBRD to revise loan terms for Kyrgyzstan

Kyrgyzstan Materials 29 February 2024 17:45 (UTC +04:00)
Kyrgyz minister proposes EBRD to revise loan terms for Kyrgyzstan
Abdullo Janob
Abdullo Janob
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BISHKEK, Kyrgyzstan, February 29. Kyrgyzstan's Minister of Economy and Commerce, Daniyar Amangeldiev, proposed to the European Bank for Reconstruction and Development (EBRD) to consider revising the financial terms of loans provided to Kyrgyzstan, which will involve a greater number of enterprises and entrepreneurs in the country, Trend reports.

According to the Ministry of Economy and Commerce of Kyrgyzstan, he made this proposal during a meeting with Mark Bowman, Vice President for Policy and Partnerships at the EBRD, who is visiting Kyrgyzstan.

During the meeting, Amangeldiev elaborated on the reforms being undertaken by the Kyrgyzstan government in tax policy and conditions for entrepreneurship. He emphasized the importance of participation by bilateral financial institutions in financing Kyrgyz enterprises, noting that such financing enabled the allocation of $400 million in 2023 for business development in the country.

Amangeldiev expressed interest in the possibility of issuing securities in Kyrgyz for international organizations, which could attract additional investments into the country. Considering Kyrgyzstan's plans to achieve carbon neutrality, he also underscored the importance of developing the creative economy, rare earth metal production, and utilizing geothermal energy.

In turn, Bowman emphasized the strategic importance of financing projects in renewable energy and water resources in Kyrgyzstan. He highlighted the significance of implementing projects in the development of irrigation systems and sustainable, rational use of drinking water to preserve the country's water resources.

Both parties expressed readiness for further collaboration in the development of Kyrgyzstan's energy and economy, recognizing the importance of these efforts for the country's sustainable development.

So far, the EBRD has invested 960 million euros in Kyrgyzstan across 238 projects, primarily focusing on supporting private entrepreneurship.

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