The Asian Development Bank will grant Kyrgyzstan $12.5 million as budget support until the end of 2008, press service of the Ministry for Economic Development and Trade reported.
The grant is a part of the Bank’s project on Kyrgyzstan’s investment climate improvement, which is expected to stimulate the inflow of home and foreign investments to Kyrgyzstan, the Minister of Economic development and Trade Akylbek Japarov stated.
The project runs since October 2007 to last till 2011 and is divided into three stages. The first stage will start in October 2008. The total project’s money fund is $15.4 million, whereof 12.4 million will go for budget support and $2.9 million for investment climate improvement.
The Bank’s share in the project is 80 percent, other 20 percent is to be paid by Kyrgyzstan’s government.
