Kyrgyz president, EBRD president discuss drawing investment into Kyrgyzstan

BISHKEK. April 3 (Interfax) - Kyrgyz President Sadyr Japarov and European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso have discussed enhancing cooperation and drawing investment into the Kyrgyz economy, the Kyrgyz presidential press service said in a statement on Thursday.

The meeting took place as part of Japarov's working visit to Uzbekistan. The Central Asia - European Union summit will be held in Samarkand on Friday.

"The parties discussed advancing cooperation between Kyrgyzstan and the EBRD, drawing investment into strategic sectors of the economy, implementing joint infrastructure projects, as well as support for the private sector and the green energy development," the statement said.

Japarov said that the countries of the region stand ready for close cooperation with international financial institutions to address environmental issues, reduce the impact of climate change and consolidate efforts to attain a common goal.

The parties also discussed the water sector reform and building the appropriate infrastructure. "The president said that in order to implement the plans outlined, this sector needs investment to improve infrastructure, increase access to safe drinking water and promote sustainable water management practices," it said.

For her part, Renaud-Basso said that since Kyrgyzstan and the EBRD started cooperating, the total investment in the country has reached around $1 billion.

The funds invested in the real sector of the country's economy amounted to $52 million last year, Reno-Basso said. The EBRD is currently considering the possibility to increase the funding, she said. A project to enhance access to clean drinking water is also being launched, within which funding has been provided for 25 communities, and the total investment in this initiative will amount to $100 million, Reno-Basso added.

The bank will also support the reconstruction of the Kara-Balta - Chaldybar highway in Kyrgyzstan, which will provide access to the Trans-Caspian International Transport Route, she said. Some part of the planned funding will be provided in grants.