EFSD to provide USD 100 mln to Kyrgyzstan to fight consequences of pandemic

2020-08-07 06:07:40

(MENAFN- Trend News Agency) The Council of the Eurasian Fund for Stabilization and Development (EFSD) resolved to provide US $100 million to the Kyrgyz Republic, the press service of the Eurasian Development Bank reported, Trend reports citing Kabar .

The loan will be used to implement the Kyrgyz Government and National Bank's programme to counter the impacts of COVID-19 on the economy and the financial and social sectors.

The funds will be provided for twenty years, with an interest rate of 1% per annum and a grace period of ten years.

EFSD funds will help to implement measures aimed at ensuring fiscal and debt sustainability, conducting a balanced monetary policy, supporting the social sector, as well as restoring economic activity and supporting businesses in the Kyrgyz Republic during the pandemic.

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