IFC will support Kyrgyzstan in the implementation of investment projects

On April 8, 2021, President of the Kyrgyz Republic Sadyr Japarov discussed the prospects for cooperation between the country and the International Finance Corporation with Cassandra Colbert, IFC Regional Manager for Central Asia.

According to President Japarov, an effective mechanism for working with international partners and investors will be created in the near future, because now it is important to stimulate the development of the private sector and provide support to entrepreneurs, the Government press service reported.

To improve work with investors, as well as provide the necessary guarantees for their activities, the status and powers of the Investments Promotion and Protection Agency will be increased and expanded. The government plans to adopt appropriate regulatory legal acts, as well as implement other necessary measures to create better conditions for doing business and implementing investment projects in Kyrgyzstan.

Considering IFC's extensive experience in supporting investment projects and assisting in the development of the private sector and the financial market, the President expressed high interest in deepening cooperation, suggesting to consider the possibility of supporting the creation of new instruments for concessional financing of the private sector and housing construction of affordable social housing.

The President stressed the importance of implementing a public-private partnership (PPP) project for the modernization and development of airports.

According to Cassandra Colbert, the priorities voiced by the Kyrgyz side fully coincide with the IFC’s priorities for the near future. She spoke about the country's great potential in attracting new investments in the discussed projects, and, given the favorable geographical location, focused on the possibility of creating a regional transit air hub in Kyrgyzstan, which will have a beneficial effect on the investment attractiveness of the country.