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EBRD President presents new Kyrgyz strategy
Jean Lemierre’s visit to focus on Bank’s Early Transition Country Initiative
On a two-day visit to the Kyrgyz Republic starting today, EBRD President Jean
Lemierre will discuss the Bank’s new strategy for the Kyrgyz Republic, which
shows the country is enjoying high growth, particularly in the micro and
small-business sector. The strategy argues that further reforms to improve the
investment climate are needed to maintain growth in the Kyrgyz Republic, one
of the poorest states in the EBRD’s region of operations.
Mr Lemierre will host a press conference on Thursday 9 December at 12.30 in
the Hyatt Hotel. He will highlight the impact of the EBRD’s new Early
Transition Countries (ETC) initiative in the Kyrgyz Republic. The initiative
has helped boost the bank’s investment activity and brought new and expanded
donor projects to the country. During his visit Mr Lemierre will hold meetings
with President Oskar Akaev, senior government officials and representatives of
the international community, including a breakfast with the International
Business Council.
The new strategy for the Kyrgyz Republic says that fostering private-sector
growth in the country depends on further efforts to combat corruption; law
reform to improve corporate governance and transparency; addressing factors
that discourage investment in key sectors such as power and energy; promoting
consolidation of the banking sector and further improvement in banking
regulation; and enhancing regional cooperation in water, energy, transit and
trade.
As part of that two-year strategy, the EBRD will adopt more innovative
investment instruments in the Kyrgyz Republic, consider small-sized, more
difficult and higher risk projects, and provide appropriate donor-funded
technical advice to support investment expansion. In particular, the Bank will
focus on micro and small-business lending and the natural resource,
agribusiness, textile, property and services sectors. The EBRD also will
further strengthen policy dialogue with the authorities to improve the
investment climate.
Contact in Bishkek
Dinara Abykanova - Tel: +996 312 53 0017
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