World Bank Approves $101.5M Loan to Boost Kyrgyz Economy

13 Sep, 22:12
Kyrgyzstan

The World Bank will provide Kyrgyzstan with a $101.5 million program loan, following a recent meeting between Finance Minister Almaz Baketaev and Najy Benhassine, the World Bank’s Regional Director for Central Asia.

The discussions focused on the upcoming disbursement of the loan in 2025, with plans to continue support through 2026, The Caspian Post reports via Kyrgyz media.

The talks also emphasized financing for the strategically significant Kambarata HPP-1 hydroelectric power project, a key component for enhancing the country’s energy security and regional development. Both sides exchanged views on strengthening Kyrgyzstan’s financial sector and advancing strategic initiatives led by the World Bank.

Additional areas of cooperation include support for small and medium-sized businesses, modernization of energy infrastructure, improving energy efficiency, promoting entrepreneurship, and attracting investment to fuel economic growth.

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The World Bank will provide Kyrgyzstan with a $101.5 million program loan, following a recent meeting between Finance Minister Almaz Baketaev and Najy Benhassine, the World Bank’s Regional Director for Central Asia.