Azernews.Az

By Abdul Kerimkhanov

Kyrgyzstan will receive financial assistance in the amount of $ 24 million from the WB.

President of Kyrgyzstan Sooronbay Jeenbekov signed the law on ratification of the financing agreement between Kyrgyzstan and the International Development Association, the press service of the head of state said.

The agreement “Financing Development Policy in the Sphere of Economic Governance” was signed on November 14 in Bishkek, and two weeks later it was ratified by the Jogorku Kenesh.

"As many as $12 million of these funds are a grant, the rest is a loan. Finances are intended to support the republican budget," the report said.

Founded in 1944, the World Bank has 189 member countries, staff from more than 170 countries, and over 130 offices. Today the Bank's work touches nearly every sector that is important to fighting poverty, supporting economic growth, and ensuring sustainable gains in the quality of people’s lives in developing countries.

Kyrgyzstan's foreign trade turnover in January-July 2018 amounted to $3.8 billion increasing 14 percent compared to the same period of 2017, Kyrgyz National Statistical Committee reported.

Export operations decreased by 1.6 percent, while imports, on the contrary, increased by 20 percent.

Kyrgyzstan's main trade partners in the EEU are Russia (66.2 percent) and Kazakhstan (32.1 percent).

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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