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EBRD, Kyrgyzstan to mull bank's upcoming strategy for country

26 June 2014 14:00 (UTC+04:00)
EBRD, Kyrgyzstan to mull bank's upcoming strategy for country

By Aynur Jafarova

The European Bank for Reconstruction and Development (EBRD) and the Kyrgyz government will discuss the upcoming EBRD strategy for the country.

The discussions will be held during First Vice President of the EBRD Phil Bennett's visit Kyrgyz capital Bishkek on June 29.

During his first visit to the country Phil Bennett will meet with Kyrgyz Prime Minister, Djoomart Otorbayev, the ministers and Governor of the Kyrgyz National Bank Tolkunbek Abdygulov, EBRD said on June 26.

He will also meet the mayor of Bishkek and the heads of municipal companies, staff of the international financial institutions active in the country and representatives of the business community, including EBRD clients and local partner banks.

During his three-day visit, the EBRD's first vice president will also visit several enterprises that have benefited from EBRD financing or know-how. These include the Lina furniture maker, the Bear Beer beverage producer, the Aselina clothes factory and the City Hotel.

The EBRD's main strategic priorities in Kyrgyzstan which will be discussed during the visit include fostering sustainable growth by strengthening regional links, enabling small and medium-sized enterprises to scale-up and bolster competitiveness, promoting sustainability of public utilities through commercialization and private sector participation, as well as helping the country to reduce regional disparities and address gaps in social inclusion.

Since the beginning of its operations in the country, the EBRD has invested close to €470 million ($ 637 million) in Kyrgyz economy through 112 projects supporting various sectors and industries.

The current EBRD portfolio in Kyrgyzstan is represented by 51 projects amounting to almost €230 million ($312 million) in the natural resources, financial, infrastructure and industry (agriculture, manufacturing and services, property and tourism) sectors.

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