Bishkek, April 8, 2021. / Kabar /. President of Kyrgyzstan Sadyr Zhaparov met with head of the regional office of the International Finance Corporation (IFC) for Central Asia Cassandra Colbert.
The prospects for cooperation between the country and the International Finance Corporation on the implementation of projects significant for the country were discussed, the Kyrgyz president’s press service said.
The head of state told about plans on creating effective mechanism for working with international partners and investors to stimulate the development of the private sector and provide support to entrepreneurs.
Zhaparov said that in order to improve work with investors, it is planned to adopt appropriate regulatory legal acts, as well as to implement other necessary measures, which will ultimately create free and open conditions for doing business and implementing investment projects.
In addition, the head of state spoke about the ongoing preparation of the country's development strategy, which includes tasks and measures to create a favorable investment climate, implement projects for the development of the financial sector and digitalization. The development of hydropower, the transport and logistics sector, the agro-industrial complex, mining, tourism, the health care system and education are identified as one of the priority sectors of the economy.
Taking into account IFC's extensive experience in supporting investment projects, assisting in the development of the private sector and the financial market, the Kyrgyz president expressed high interest in deepening cooperation, proposing 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.
Sadyr Zhaparov also noted the importance of strengthening joint work on the implementation of projects in the field of digitalization, renewable energy sources, stressing his readiness to work on projects for the construction of solar and hydroelectric power plants.
At the same time, he spoke about the importance of implementing the project within the framework of public-private partnership (PPP) for the modernization and development of airports.
The head of the IFC Regional Office, Cassandra Colbert, emphasized that the priorities voiced by the Kyrgyz side fully coincide with the priorities of the Organization for the near future.
She noted the country's great potential in attracting new investments in the listed projects, and taking into account the good geographical location, she 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.
“We are ready to work together to speed up the recovery of the Kyrgyz economy from the consequences of the coronavirus pandemic and improve the welfare of citizens,” said Cassandra Colbert.
The head of the IFC Regional Office expressed full support for the efforts of the Kyrgyz side in the implementation of the announced projects and noted the readiness to continue joint fruitful cooperation.
President Sadyr Zhaparov reiterated the importance of supporting development partners in the implementation of priority goals and objectives, expressing hope for further cooperation in the development of the private sector, the financial market and PPP.
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