21 Oct 2010 21:09

Kyrgyzstan hopes to raise $245 mln in foreign aid

BISHKEK. Oct 21 (Interfax) - World financial bodies and donor-countries will grant Kyrgyzstan $245 million in aid till the end of 2010, Kyrgyz Finance Minister Chorobek Imashev told a press conference on Thursday.

He said he had received assurances from donor-countries and financial CEOs during the October 6-11 World Bank-International Monetary Fund annual meeting in Washington.

Russia confirmed plans to consider disbursing between $135 million and $150 million to Kyrgyzstan till the end of December, the minister said, adding that it would depend on the request submitted by the Kyrgyz side, which he said is currently being adjusted.

All the necessary formalities for $28 million in aid from the World Bank have been completed, Imashev said, adding that the money was expected to arrive within a couple of weeks.

The Asian Development Bank (ADB) pledged $40 million in aid to shore up the Kyrgyz budget till the end of the year, the minister said.

The rest of the ADB's $168-million aid package for Kyrgyzstan is intended for investment projects.

The Kyrgyz delegation and the World Bank agreed an additional $10-million in aid for the agricultural sector, including veterinary services.

Asked about the terms of the aid, the minister said that 52% would come in the form grants and 48% in the form of credits.

Russia will offer 1%-interest credit for 25 years, he said.