BISHKEK, Kyrgyzstan, May 10. The Asian Development Bank (ADB) has a sovereign loan portfolio in Kyrgyzstan comprising 14 loans and 19 grants, totaling $784.8 million, as of December 31, 2023, Trend reports.
According to the ADB, in total, the bank has committed 217 loans, grants, and technical assistance amounting to $2.6 billion for Kyrgyzstan by the same date.
ADB's current operations in Kyrgyzstan aim to diversify the economy, promote inclusive development, and enhance social protection. The bank also supports Kyrgyzstan's active engagement in the Central Asia Regional Economic Cooperation (CAREC) Program.
The bank’s analytics noted that despite global and regional challenges, Kyrgyzstan's economy showed resilience in 2023, with notable improvements in domestic revenues and a decrease in public debt. However, high inflation persists due to demand pressures. To sustain growth, structural reforms are essential.
To foster economic growth and poverty reduction, Kyrgyzstan should prioritize building resilience to climate change, stimulating private sector-led growth, enhancing governance standards, and fostering inclusive development, the analysts believe.