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Kyrgyzstan will receive a loan to support the pandemic

12.08.2020 65 просмотров

The Council of the EFSD approved the provision of budgetary support in the amount of USD 100 million to the Kyrgyz Republic.

An agreement was signed on providing the Kyrgyz Republic with a financial loan from the Eurasian Fund for Stabilization and Development (EFSD) to support the budget in the context of the COVID-19 pandemic between the Ministry of Finance of the Kyrgyz Republic and the Eurasian Development Bank (EDB), the Fund Manager of the EFSD. The documents were signed by Baktygul Zheenbaeva, Minister of Finance of the Kyrgyz Republic, and Andrey Shirokov, Acting Executive Director of the EFSD Project Block.

Previously, the EFSD Council approved the provision of Kyrgyz Republic budgetary support in the amount of 100 million US dollars. This loan will be used to support the implementation of the Program of the Government and the National Bank of the Kyrgyz Republic to counter the impact on the economy, financial and social sector of the COVID-19 pandemic. The funds will be provided for 20 years at 1% per annum with a grace period of 10 years, and in the first year the interest rate will be 0.25% per annum.

a balanced monetary policy, support for the social sector, as well as to restore economic activity and support the activities of business entities of the Kyrgyz Republic in a pandemic.

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