In the Kyrgyz republic we focus on:
Stabilising and developing the financial sector: The EBRD promotes stabilisation, intermediation and confidence building in the financial sector. It does so by providing financial institutions with targeted loans, where possible in local currency, possible equity investments, and through technical assistance and policy dialogue.
Supporting development of local private enterprises: The EBRD will target its support at projects in the corporate sector that aim to increase productivity, production of higher value-added goods and products that can be competitive in foreign markets, raising business standards, and improving energy efficiency.
Strengthening critical infrastructure: We co-finance regional and municipal infrastructure, including water supply, solid waste management and urban transport. Many projects put a particular emphasis on energy efficiency. Due to debt sustainability concerns, any public infrastructure projects would be financed with co-financing grants or concessional loans from other IFIs or bilateral donors.
Policy Dialogue: The EBRD conducts policy dialogue to address remaining issues in the investment climate, to further its efforts to strengthen the regulatory and legal basis for energy efficiency investment and to improve the macro-prudential environment for local currency finance. We will continue to support the Secretariat of the Council for Business Development and Investment through ongoing technical assistance.
In addition, the EBRD will seek to support through the above priorities the reduction of regional economic disparities, by increasing its outreach to less developed rural areas, in particular in the southern regions, and addressing gender gaps across sectors.
The EBRD’s latest Kyrgyz Republic strategy was adopted on 25 February 2015
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Current EBRD forecast for Kyrgyz Republic Real GDP Growth in 2015 3.2%
GDP growth is expected to moderate to 4.5 per cent in 2014 and somewhat recover to 4.8 per cent in 2015. Growth in the Kyrgyz Republic remains highly dependent on output of the Kumtor gold mine.
The Kyrgyz Republic seeks to join the Customs Union with Russia, Kazakhstan and Belarus in a process which is expected to be finalised by 2015. The accession represents both opportunities and risks for Kyrgyz Republic in terms of pace and direction of structural reforms.
The mining and quarrying sector remains both a significant driver and potential downside risk for economic growth in the country, accounting for 10 per cent of GDP and 50 per cent of industrial output.