Priorities
The EBRD’s fundamental objective in the Kyrgyz Republic is to develop dynamic micro, small and medium-sized enterprises consistent with the realities of the country’s economy. It works to strengthen the financial sector by investing and lending to stronger institutions and encouraging co-investment. The Bank may support privatizations in such sectors as telecommunications, power, the financial sector. It is also seeking to support the Kyrgyz economy in sectors such as natural resources, tourism and agribusiness.
The EBRD is highly additional in attracting long-term foreign investment to the Kyrgyz Republic and has taken the lead in ensuring that the private sector plays a prominent role in economic development.
The new Country Strategy approved in June 2007 outlines the following strategic priorities:
Fostering the private sector
The development of private businesses remains the EBRD’s key objective, with investments targeting agribusiness, property and tourism, natural resources and consumer services to contribute to the diversification of the economy. The Bank will expand its successful programme to finance micro and small enterprises.
Strengthening the financial sector
The EBRD will continue to support the development of the sector by focusing on strengthening its partners and introducing new products. The Bank will also work with the National Bank on supervisiory issues with a view to strengthening the sector.
Support for critical infrastructure
The EBRD will focus on non-sovereign infrastructure projects. The country has urgent investment needs in the generation and distribution of electricity and gas, municipal waste, water, heating and urban transport.
Policy dialogue
The Bank will enhance its dialogue with the government about the investment climate and bottlenecks affecting local and regional investors, in coordination with other international financial institutions, donors and the business community.
The Early Transition Countries Initiative (ETCI) allows the EBRD to expand its instruments to reach smaller projects, utilise expanded technical cooperation (TC) funds to support due diligence and develop innovative infrastructure projects.
