The World Bank has approved $101 million in financing for the First Sustainable and Inclusive Growth Development Policy Operation in the Kyrgyz Republic. It will provide a budgetary support to the government in implementing a broad set of reforms.
As part of its goal to achieve an upper-middle-income status by 2030, the Kyrgyz government is advancing a bold reform agenda to drive socio-economic development. The reforms will be focused on securing a sustainable energy supply, improving the delivery of social services, and strengthening both fiscal sustainability and the overall business climate.
“This Development Policy Operation reflects our strong partnership with the Kyrgyz Republic and our shared goal – to deliver tangible results for people,” said Hugh Riddell, World Bank Group Country Manager for the Kyrgyz Republic.
“As the country advances with the landmark Kambarata-1 Hydropower Project, the reforms supported by this operation will help create jobs, build skills, and establish the right conditions to ensure the project delivers lasting and inclusive benefits for all,” he concluded.
The World Bank financing will support the Kyrgyz government’s reforms across three main areas:
Energy Sector: The reforms seek to modernize the energy sector, expand access, and support broader economic transformation. Key measures include revising electricity and heating rates while safeguarding vulnerable households, increasing transparency, and attracting private investment in renewable energy.
Social Services and Resilience: The reforms aim to ensure that economic growth benefits vulnerable populations. The focus will be on improving education outcomes, scaling up targeted social programs, and modernizing water infrastructure while addressing regional disparities and promoting equitable access to services.
Fiscal Sustainability and Business Environment: The reforms aim to strengthen fiscal stability and create a more favourable environment for private investment. Measures include modernizing key legislation to enhance transparency, competition, and investor confidence.
The First Sustainable and Inclusive Growth Development Policy Operation is financed through the International Development Association (IDA), the World Bank Group’s concessional lending arm. The funding package consists of a $68 million zero-interest credit, to be repaid over 50 years, and a $33million zero-interest, shorter-maturity loan with a 12-year repayment term and a 6-year grace period during which no repayments are required.
This combination of highly concessional and low-cost financing aims to provide the Kyrgyz Republic with affordable and sustainable financial support for its development priorities.
One month after Ebola cases were confirmed in eastern Democratic Republic of the Congo, health officials and aid organisations say the true extent of ...
Firefighters and workers were clearing debris on Monday after what Ukraine described as a deliberate Russian strike severely damaged a nearly 1,000-ye...
Iran has said that reaching an agreement with the U.S. to end the war does not mean Tehran will overlook what it describes as war crimes committed aga...
Pakistan's political leadership on Monday welcomed a breakthrough agreement between the U.S. and Iran aimed at ending more than three months of confli...
Uzbekistan and five partner countries have signed a protocol to further develop the CASCA+ railway corridor, a growing transport route linking Central...
The posibility of launching direct flights between Tbilisi and Bishkek was floated by Georgian Prime Minister Irkali Kobakhidze and Kyrgyzstan's President Sadyr Japarov during an official visit by the former to the Central Asian nation.
The European Union’s proposed 21st sanctions package against Russia could affect companies in Central Asia, including firms in Kazakhstan and Kyrgyzstan, as Brussels moves to tighten controls on sanctions circumvention.
Archaeologists in Kyrgyzstan’s Naryn region are uncovering medieval bathhouses, mausoleums and ancient Silk Road settlements, while warning that many historical sites are rapidly deteriorating because of the weather and erosion.
A Kyrgyz–Japanese archaeological expedition has uncovered the remains of a Buddhist temple complex at the medieval settlement of Ak-Beshim, also known as Suyab, in Kyrgyzstan’s Chui Region.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
Iran has said that reaching an agreement with the U.S. to end the war does not mean Tehran will overlook what it describes as war crimes committed against Iranians by Israel and the United States.
Uzbekistan and five partner countries have signed a protocol to further develop the CASCA+ railway corridor, a growing transport route linking Central Asia, the South Caucasus and Türkiye that provides an alternative connection between Asian and European markets.
An armed unmanned aerial vehicle crashed on a Black Sea beach in northern Türkiye on Sunday, prompting a security operation and the controlled detonation of its munitions.
Fighting in southern Lebanon eased on Monday after a U.S.-Iran agreement aimed at ending months of regional conflict was announced, although uncertainty remained over how the deal would be implemented on the ground.
United Nations High Commissioner for Human Rights Volker Türk on Monday welcomed the newly announced peace agreement between the U.S. and Iran, urging all parties to exercise restraint and work towards a lasting settlement.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment