Bishkek, May 11, 2020. /Kabar/. On May 8, 2020, the International Monetary Fund (IMF) approved the second tranche of aid to Kyrgyzstan in the amount of $121.1 million, the press service of the Kyrgyz Government reported.
The first IMF tranche was used for socially significant budget expenditures. Thus, the total amount of assistance through the Fund will amount to $241.9 million.
On May 5, 2020 an Agreement was signed between Kyrgyzstan and the Asian Development Bank (ADB) for budget support in the amount of $50 million for the Kyrgyz Republic under the new ADB COVID-19 Active Response and Expenditure Support (CARES) program.
In addition, the Asian Development Bank will consider additional financing, through policy-based targeted lending or other lending to support the Kyrgyz Republic in 2020.
Besides, on May 14, 2020, formal negotiations are planned with the Asian Development Bank to provide $20 million to help improve the country's capacity to mitigate the health impacts of the pandemic through emergency project assistance.
The World Bank has approved $12.15 million in funds in order to combat the effects of coronavirus proliferation and is preparing a tender process for them.
In addition, $9 million dollars is being reallocated from the ongoing World Bank-financed Enhancing Resilience in Kyrgyzstan Project which has a mechanism known as a Contingent Emergency Response Component (CERC) that allows governments to quickly access undisbursed funds in World Bank projects to respond to emergencies.
Approximately €30 million in budget support is being worked out with the European Union, and the redistribution and use of $15 million in savings from ongoing projects in the Kyrgyz Republic to combat COVID-19 has been agreed with the Islamic Development Bank.
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