Irrigation, transport, health and stabilization financing: the EFSD’s ongoing and potential projects in Kyrgyzstan are discussed during a portfolio review
July 29, 2024. The Eurasian Fund for Stabilization and Development (EFSD) and the Kyrgyz Republic discussed projects in irrigation, transport, health, and the provision of stabilization financing during a joint portfolio review. Participants included representatives from the Ministry of Finance, Ministry of Transport and Communications, Ministry of Energy, Ministry of Health, Ministry of Education and Science, and the Ministry of Water Resources, Agriculture and Processing Industry.
The Fund regularly reviews portfolios with its member states, allowing for feedback from partners and discussions on key considerations for successful project implementation and potential financing for new initiatives that are priorities for the country.
In particular, the participants reviewed progress on the second phase of the Toktogul HPP rehabilitation. The EFSD has provided US $100 million for this project. To date, units 4 and 2 of the plant have been replaced, and main and auxiliary equipment is being installed at unit 1.
Preparations are underway for a project to improve water supply and sanitation in rural communities in the Osh Region, with the Fund planning to allocate US $60 million. The project aims to provide access to drinking water for 130,000 people in 32 communities. In addition to providing basic infrastructure, the project will support the development of water management systems.
A US $160 million program for stabilization financing and reform support in the Kyrgyz Republic has been completed.
A US $1.45 million technical assistance grant was provided to develop Taxpayer Rating, an automated information system for taxpayer categorization, and a digital taxpayer profile in the Kyrgyz Republic. Among other things, this system will help businesses evaluate potential counterparties.
The Cabinet of Ministers of the Kyrgyz Republic is preparing to implement several major transport projects with financial support from the EFSD. The reconstruction of the Bishkek–Osh road (Phase IV), which crosses four of the country’s seven regions and serves 2 million people, is nearing completion. The project reconstructed 67 km of the road.
To implement the Healthy Person – Prosperous Country state program by 2030, the Kyrgyz Republic has applied to the EFSD for a grant to purchase over 100 ambulances. Following the review, the Fund is expected to provide US $3 million for this purpose.
The Kyrgyz Republic is a founding member of the EFSD. Since its inception, the Fund has allocated approximately US $728 million for completed and ongoing projects. In addition to the above projects, the EFSD has supported the donation of more than 100 medical vehicles, the Health Caravan grant program for disease prevention in hard-to-reach areas, and the financing of agricultural machinery supplies.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial arrangement totaling US $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.
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