WASHINGTON, October 31, 2023 ¨C ľ¹ÏÓ°Ôº Group announced a new five-year Country Partnership Framework (CPF) for the Kyrgyz Republic that defines the strategic focus of the World Bank¡¯s engagement with the country around job creation, natural resource management, and improving human capital outcomes. The CPF, discussed today by the World Bank¡¯s Board of Executive Directors, lays out a selective and flexible program for World Bank assistance.
¡°Ä¾¹ÏÓ°Ôº has been a trusted partner of the Kyrgyz Republic for the last 30 years. The new Country Partnership Framework responds to the Kyrgyz Republic¡¯s National Development Strategy to 2040 and the National Development Program for 2022-2026. The new partnership strategy will reinforce the efforts of the Cabinet of Ministers to modernize the economy, promote inclusive growth, and build a more prosperous future for all,¡± said Kyrgyz Republic¡¯s Minister of Finance Almaz Baketaev.
The CPF was informed by the World Bank¡¯s extensive analytical work including the Systematic Country Diagnostic Update, discussions with the Cabinet of Ministers of the Kyrgyz Republic, and consultations with stakeholders across the country.
¡°Ä¾¹ÏÓ°Ôº is proud to support Kyrgyz Republic¡¯s ambitious and well-articulated reform agenda,¡± said Tatiana Proskuryakova, World Bank¡¯s Regional Director for Central Asia. ¡°Under our new Country Partnership Framework, we will support the country¡¯s economic transformation with policy advice, technical assistance, and planned project financing of around $500 million. New investments will focus on the key priority sectors of energy, water, and agriculture to create a better and more sustainable future for the citizens of the Kyrgyz Republic.¡±
The new CPF is centered around three core pillars aimed at delivering tangible development outcomes including: 1) increasing private sector-led job creation; 2) improving access to sustainably managed natural resources, and 3) enhancing human capital and economic empowerment of vulnerable population groups. The CPF also includes a strong focus on key global challenges including strengthening climate resilience and reducing emissions; closing gender gaps; supporting jobs and economic transformation; strengthening institutions; and reducing fragility risk.
The new CPF has been developed together with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
¡°The Kyrgyz Republic needs to urgently develop a dynamic private sector that can support sustainable productivity growth and create jobs across the country,¡± said Wiebke Schloemer, IFC Director for T¨¹rkiye and Central Asia. ¡°IFC will continue to help increase the private sector¡¯s share in the economy by supporting corporate governance, aiding the privatization process, helping improve access to finance with the focus on women-owned businesses and climate action, and bolstering public-private partnerships for infrastructure and energy sector development.¡±
ľ¹ÏÓ°Ôº¡¯s overall mission is to end extreme poverty and promote shared prosperity on a livable planet. ľ¹ÏÓ°Ôº¡¯s program in the Kyrgyz Republic currently consists of 22 projects supporting the modernization and development of various sectors, with commitments of over $1 billion.
