A senior EBRD delegation led by Olivier Descamps, EBRD Managing Director for Central Asia, Caucasus, Eastern Europe and Turkey, will travel to the Kyrgyz Republic 28-20 April to assess the country’s needs in the private sector following the recent unrest and offer the Bank’s support to the recovery and further development of the country.
In discussions with the interim authorities, the EBRD, as the biggest investor in the Kyrgyz private sector, will consider ways to address the resumption of activities and job creation by private businesses.
The visit follows EBRD President Thomas Mirow’s recent appeal to international community to join forces in coordinating its efforts in the Kyrgyz Republic in the wake of recent violence. The first task would be to assess the country's immediate needs together with the longer-term development challenges facing the Central Asian nation.
The proposal was contained in a letter to the heads of the Asian Development Bank, the International Monetary Fund, the Islamic Development Bank, the United Nation Development Programme and the World Bank.
The President proposed a coordinated approach among the international organisations that would leverage respective strengths and increase the effectiveness of the response. Such cooperation had borne fruit in respect of Georgia in 2008 and in the overall context of the global economic crisis.
In cooperation with the IMF, other IFIs and key bi-lateral donors, the EBRD will consider support to strengthen the stressed banking sector, enhance its efficiency and ensure continued access to credit for micro, small and medium businesses in the private sector.
Furthermore, the Bank will offer its support for the resumption of trade, via the Bank’s direct financing and existing clients in the Kyrgyz banking sector and non-bank micro finance institutions.
The EBRD is ready to consider new financial facilities and technical assistance to support the development of the country’s agricultural sectorю Also, the Bank will work with key international and bi-lateral donors to improve the investment climate in the country and is ready to provide technical assistance as required.
The Bank, as a complementary fund provider to public sector projects, will work with key players in this field, such as the World Bank and the Asian Development Bank, on public sector reforms, public finance management, and is prepared to finance the Bank’s niche areas including municipal and regional transport infrastructures.