The FNANCIAL — The European Bank for Reconstruction and Development (EBRD) has launched a new strategy for the Bank’s activities in the Kyrgyz Republic which will guide EBRD investment and policy dialogue in the next four years.
The strategy, approved by the shareholders on 25 February 2015, sets out the following priorities for the EBRD’s work in the country:
Strengthening regional cross-border linkages: The EBRD will facilitate economic and trade cooperation and integration with other countries within the region;
Enabling SMEs to scale up and bolster competitiveness: The Bank will support sustainable growth of SMEs – especially those small businesses with potential to grow into mid-sized corporates – through both investment and advisory services;
Promoting sustainability of public utilities through commercialisation and private sector participation: The Bank will continue to offer its recognised expertise and delivery models to municipal utilities and to support modernisation of assets and private sector participation.
The EBRD will also continue to support energy efficiency projects through dedicated credit lines.
The previous strategy for the Kyrgyz Republic was approved in 2011. Since then, the EBRD actively increased its support to the country’s economy and invested €207 million in 56 projects in the country, according to EBRD.
In total, since the beginning of its operations in the country in 1992, the Bank has invested about €570 million in the Kyrgyz economy. Almost three quarters of the Bank’s current investment in the country is aimed at supporting sustainable energy through cleaner energy generation or energy efficiency improvements for businesses and households.
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