• KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01185 0.85%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09377 -0.21%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 36

ADB to Allocate $50 Million to Support Economic Reforms in Kyrgyzstan

It has been reported by 24.kg that the Asian Development Bank (ADB) will allocate $50 million to support economic reforms in Kyrgyzstan. According to a statement from the ADB, the funds aim to improve the fiscal system and public administration. The project's primary goal is to help the country transition to environmentally-friendly technologies, adapt to climate change, and integrate gender aspects into budgetary processes. Of the total funding, $43 million will be a program loan, and $7 million will be provided as a grant. "Kyrgyzstan's economy is vulnerable to economic crises due to limited resources and weak governance. The government is committed to strengthening financial institutions to support key sectors of the economy," ADB stated. The ADB program aims to improve corporate governance of state-owned enterprises, tax policy, and transparency in public administration. ADB Director General for Central and West Asia, Eugene Zhukov emphasized that the initiative promotes stable and inclusive economic growth. This year marks 30 years of cooperation between ADB and Kyrgyzstan, under which 217 projects worth $2.6 billion have been implemented. The ADB continues to support the country in achieving sustainable economic growth and fighting poverty.

ADB Funds Wastewater Management and Sustainable Tourism in Issyk-Kul, Kyrgyzstan

On June 24, the Asian Development Bank (ADB) announced its provision of $56 million to improve wastewater management and enhance sustainable and inclusive tourism in Kyrgyzstan’s Issyk-Kul region. The funding comprises a $25 million concessional loan and a $31 million Asian Development Fund (ADF) grant. The Issyk-Kul region, with its rich ecological and biological diversity and Issyk-Kul Lake, has long been a popular tourist destination, with some 80% of holidaymakers choosing to stay at the lakeside resort of Cholpon-Ata. However, due to its age, the town’s wastewater network currently serves just half of the permanent population and excludes almost a third of tourism facilities. To address the issue, ADB funds will be invested in a climate-resilient infrastructure including a wastewater treatment plant, pumping stations, and improved sewer infrastructure, serving Cholpon-Ata's  main resorts, guesthouses, residential and business sectors. In tandem with helping preserve the environment around the lake, the initiative will support local authorities in developing a climate-resilient tourism master plan for the area. The project will also boost the area's tourism infrastructure through the creation of a museum and information centre, improving and conserving the local archaeological heritage site, constructing bike trails and walking paths around the lake's shoreline, upgrading three public parks, and facilitating access to green spaces. ADB Director General for Central and West Asia Yevgeniy Zhukov commented: “Economic growth can be driven by low-carbon tourism built on sound environmental practices and climate-resilient infrastructure. ADB’s project addresses critical challenges faced by Cholpon-Ata’s tourism industry. By integrating environmental improvements and wastewater investments with tourism infrastructure, we are helping shift Kyrgyz Republic to a low-carbon growth trajectory.”    

ADB ups growth forecast for Kazakhstan, downs for Kyrgyzstan, Turkmenistan, Uzbekistan

BISHKEK (TCA) — Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices, and a consolidation of India’s growth rebound. But escalating trade tensions will test the region’s resilience, underscoring the importance of efforts to bolster trade ties among its countries, says a new Asian Development Bank (ADB) report. Continue reading

ADB approves new partnership strategy for Kyrgyzstan

BISHKEK (TCA) — The Asian Development Bank's (ADB) Board of Directors has endorsed a new 5-year country partnership strategy (CPS) to promote sustainable economic growth, leverage regional cooperation to reap the benefits of access to larger markets, and improve the quality of life in Kyrgyzstan. The 2018–2022 strategy is expected to provide $641 million in grants and sovereign loans to the Kyrgyz Republic, which joined ADB in 1994. Sovereign operations will focus on energy, transport, education, public sector management, water supply and sanitation, and agriculture. Private sector support will explore opportunities in agribusiness, energy, and telecommunications. To date, ADB has provided about $1.7 billion in loans and grants to the country. ADB is the Kyrgyz Republic’s largest multilateral development partner. “We are committed to helping the government achieve its development plans,” said ADB Country Director for the Kyrgyz Republic Ms. Candice McDeigan. “Our new CPS is focused on achieving higher and broader-based economic growth, creating jobs, and reducing poverty levels, especially in rural areas.” The Kyrgyz Republic, a landlocked country with a small population of just over 6 million, needs to attract investments and diversify its economy. Economic growth has been driven largely by one commodity, gold, and remittances from workers in Kazakhstan and Russia. The economy faces constraints to create adequate jobs in the formal sectors, and about 25% of the population lives below the poverty line, with many of those living in rural areas and in the south of the country, the ADB said in a press release on September 25. A priority for the government is to identify and invest in new areas of economic growth in select regional centers and towns. It is also focused on increasing the effectiveness of public spending, managing debt levels and trade imbalances, and strengthening the investment environment. Given the wide-ranging needs of the country, ADB’s strategy builds upon its previous operations and aligns with evolving government priorities. The CPS supports economic diversification through investments in transport and energy, particularly improving the country’s aging hydropower plants to increase supply and boost power exports to neighboring countries. To improve the investment climate for private enterprise, ADB will provide policy-based support for reforms that make it easier to trade and do business. The CPS will improve access to public and social services. ADB will reengage in the agriculture sector through project financing to improve services, increase productivity and the sector’s resilience to climate change and natural disasters, as well as improve supply chains to enable improved access to regional markets. ADB will continue its support for policies and programs to help students and workers acquire the training and skills they need to find work in a modern economy. A priority will be placed on reforms to secondary and tertiary education to help produce more science and technology graduates. The new CPS will also deliver safe drinking water and provide better sanitation systems in select urban and rural areas where infant mortality rates almost double that of the cities. A key obstacle to further...

ADB to provide over $300 million to Tajikistan in 2019–2021

DUSHANBE (TCA) — Asian Development Bank (ADB) Vice-President Mr. Wencai Zhang on August 13 met with the Prime Minister of Tajikistan Mr. Kohir Rasulzoda, First Deputy Prime Minister and ADB Governor Mr. Davlatali Said, Economic Development and Trade Minister and ADB Alternate Governor Mr. Nematullo Khikmatullozoda and other senior government officials in Dushanbe. Mr. Zhang reiterated ADB’s support to Tajikistan’s development agenda, as the country strives to achieve inclusive and sustainable growth. Continue reading

ADB reviews implementation of projects in Tajikistan

DUSHANBE (TCA) — Energy and transport sectors remained the largest recipients of the Asian Development Bank (ADB) financing in 2017 in Tajikistan, accounting for 48.3% and 31.7%, respectively, of all projects under implementation, according to the findings presented during the annual country operations review by ADB and the Government of Tajikistan. Continue reading