BISHKEK, Kyrgyzstan, May 6. Kyrgyzstan and the Asian Development Bank (ADB) have signed a framework agreement aimed at accelerating the launch and implementation of socially and economically significant projects in the country, TurkicWorld reports, citing the Ministry of Finance of Kyrgyzstan.
The agreement was signed following talks between Kyrgyz Finance Minister Ruslan Suinaliev and ADB Vice President Yingming Yang on the sidelines of the 59th Annual Meeting of the Asian Development Bank, held in Samarkand.
During the meeting, the sides discussed the current state and prospects of bilateral cooperation, as well as the implementation of joint projects aimed at supporting Kyrgyzstan’s socio-economic development.
The ADB Vice President reaffirmed the bank’s readiness to continue providing comprehensive support to the country, including assistance in advancing structural reforms, modernizing public administration, and promoting digitalization.
He noted that the Asian Development Bank will continue supporting priority initiatives aimed at sustainable economic growth and improving the quality of life of the population.
In turn, Suinaliev expressed gratitude for ADB’s support, emphasizing the importance of budget assistance in ensuring macroeconomic stability and advancing key reforms.
"Kyrgyzstan is always open to constructive and mutually beneficial cooperation. We highly value our partnership with the Asian Development Bank and are ready to further expand joint work on strategically important projects," he said.
The parties expressed confidence that further strengthening of the partnership will contribute to sustainable economic development and effective implementation of reforms.
Recently, ADB also issued its first disaster resilience bond (DRB) for Kyrgyzstan and Tajikistan.
The $80 million 3-year DRB for the Kyrgyz Republic has a coupon (per annum) comprised of compounded Secured Overnight Financing Rate (SOFR) plus a funding margin of 4 basis points plus a risk margin of 600 basis points. It was priced at par with a maturity date of 30 May 2029.
