WB Introduces New Five-Year Strategy For Kyrgyzstan

2023-11-03 12:21:24

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, November 3. The World Bank Group has introduced a new five-year strategy, the Country Partnership Framework (CPF), for Kyrgyzstan, Trend reports.

Tatiana Proskuryakova, the Regional Director for Central Asia at the World Bank, stated that under this CPF, the bank will support Kyrgyzstan's economic transformation through policy guidance, technical support, and planned project financing of approximately $500 million.

The new CPF encompasses three core objectives, which include increasing employment through the private sector, improving access to sustainably managed natural resources, and empowering vulnerable population groups by enhancing human capital and economic prospects.

Furthermore, the CPF places a strong emphasis on addressing global challenges, such as strengthening resilience to climate impacts and reducing emissions, promoting gender equality, supporting economic transformation and employment, strengthening institutional capacities, and mitigating the risks associated with instability.

According to WB, the development of this new CPF was a collaborative effort involving the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

WB's initiatives in Kyrgyzstan currently encompass 22 projects aimed at modernizing and advancing various sectors, with commitments exceeding $1 billion.

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