WB, Kyrgyzstan collaborate at highest level - bank's executive director

Kyrgyzstan

5 March 02:00
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Cooperation between the World Bank (WB) and Kyrgyzstan is at a high level, said the Executive Director of the WB Group, Dominique Favre, during a meeting with the President of Kyrgyzstan, Sadyr Zhaparov in Bishkek, TurkicWorld reports.

According to the press service of the Kyrgyz president, Favre recognized Kyrgyzstan's substantial development and notable achievements in recent years, acknowledging the country's progress. He expressed the WB's readiness to support priority areas in Kyrgyzstan, particularly in the energy sector, citing the ongoing project for the technical feasibility study of the Kambarata-1 hydropower plant (HPP) as an example.

Favre also highlighted the WB's alignment with President Zhaparov's stance on climate change, indicating its willingness to provide necessary assistance, share expertise, and knowledge.

During the meeting, Zhaparov lauded the WB's contributions to Kyrgyzstan's socio-economic development, emphasizing the country's path towards stable and dynamic growth. He noted remarkable economic growth rates over the past two years, reaching 9 percent in 2022 and 6.2 percent in 2023, marking the highest figures in a decade. Last year, Kyrgyzstan's GDP surpassed 1.229 trillion soms ($13.742 billion) for the first time in its history.

Against the backdrop of global climate challenges, Zhaparov highlighted the importance of developing green technologies, particularly hydroelectric power. The Kambarata-1 HPP project, currently one of the largest energy initiatives in Central Asia, was underscored for its significance. The president expressed confidence in the WB's continued leadership in advancing the project, which presents additional opportunities for resource mobilization from other international financial institutions.

Additionally, he emphasized Kyrgyzstan's commitment to developing road infrastructure, essential for economic activity and investment attractiveness. Specifically, Zhaparov emphasized the importance of the China-Kyrgyzstan-Uzbekistan railway project, which plays pivotal role in Kyrgyzstan's transportation sector.