(MENAFN- AzerNews)
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The Asian Development Bank (ADB) has approved a $50-million
project to improve the development of Kyrgyz economy, reports citing the ADB's press
service.
Within the framework of this project, which consists of a $25
million grant and a $25 million concessional loan, the ADB will
assist Kyrgyzstan in becoming more resilient to external
shocks.
'This program will help create an enabling environment for
expanding the product and export base of Kyrgyzstan's economy. The
reforms will improve economic opportunities through boosting trade,
access to finance, and facilitating the growth of export-oriented
businesses,' ADB's Public Management Specialist Bobir Gafurov
said.
In addition, he also underlined that this project will support
efforts to strengthen fiscal management and the social protection
system.
Notably, since 1994 the Asian Development Bank has allocated
more than $1.3 billion for the implementation of development
projects in Kyrgyzstan
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