Bishkek, July 21, 2020. /Kabar/. President Sooronbay Jeenbekov signed the Law of the Kyrgyz Republic “On Ratification of an Agreement between the Kyrgyz Republic and the International Development Association (IDA, World Bank) on the Regional Economic Development Project in Osh Region and the city of Osh, signed on May 12, 2020 in Bishkek”.
The Law was adopted by the Jogorku Kenesh (Kyrgyz Parliament) on June 18, 2020, the press service of the President reported.
In accordance with this Law, Kyrgyzstan’s Ministry of Finance is to notify the World Bank on the implementation of the internal procedures required for the entry into force of the above agreements.
The Law comes into force from the date of its official publication.
The objective of this project is to support the Kyrgyz Republic to enhance regional economic development through targeted interventions in tourism and agriculture and improve institutional capacity of Osh Region and the city of Osh.
As part of its support to the Government of the Kyrgyz Republic in promoting economic and regional development, the World Bank developed the Regional Economic Development Project for a total amount of USD 60 million (USD 30 million is IDA grant and USD 30 million is IDA credit).
This Agreement is an important element in the social and economic development of Osh Region and the city of Osh, contributing to job creation, poverty reduction, agricultural value chains and tourism development.
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