Kyrgyzstan ratifies agreement with ADB on improving investment climate

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Bishkek, Dec. 22, 2017. /Kabar/. President of Kyrgyzstan Sooronbai Zheenbekov signed the Law of the Kyrgyz Republic "On the Ratification of the Grant Agreement between the Kyrgyz Republic and the Asian Development Bank Second Investment Climate Improvement Program - Subprogram 3 (grant No. 0563-KGZ), signed Dec. 18, 2017 in Bishkek", the President's press service reported.

The law was passed by the Jogorku Kenesh on Dec. 21, 2017.

Under the Second Investment Climate Improvement Program - Subprogram 3, the Government of the Kyrgyz Republic implemented reforms in the following areas:

- Increasing the financial deepening and accessibility of finance;

- Encouraging a comprehensive program of public-private partnerships;

- promotion of investments and exports;

- simplification of business.

After the ratification of the ADB Grant Agreement, grant funds amounting of $ 25 million will be provided for budget support.

The law comes into force from the date of signing.

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