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EBRD statement on Kumtor Gold

By EBRD  Press Office

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The EBRD is deeply concerned that the Parliament of the Kyrgyz Republic could decide tomorrow to begin the process of a state take-over of the Kumtor Gold Company. We believe that any such decision would put in doubt the commitment of the Kyrgyz Republic to stand by its obligations to its international partners and foreign investors. It risks the country’s economic recovery and its reputation as a secure place for investors to operate.

The EBRD will work with its shareholders, other international financial institutions and the foreign and domestic business community to highlight the negative consequences of such a course of action and to mitigate its impact.

The EBRD is committed to working with the Kyrgyz authorities on improving the business climate and investing to change people’s lives for the better.

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