News block
13 January 2014 г.
The Kyrgyz Republic: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Request for Modification of Performance Criteria
EXECUTIVE SUMMARY Political context. The political environment has been broadly stable, albeit the ongoing dispute with gold company Centerra is creating tensions. In September, the government and Centerra signed a memorandum of understanding which stipulated the exchange of 33 percent of the government’s share in Centerra for a 50 percent stake in Kumtor.
13 January 2014 г.
EDB is taking part in the G20 Seoul Conference
Almaty, 19 December 2013. Sergey Shatalov, Deputy Chairman of the Management Board at Eurasian Development Bank (EDB), is taking part in the G20 Seoul Conference. One of the central issues on the forum’s agenda is the strengthening of dialogue and cooperation between Regional Financial Arrangements (RFAs) and between RFAs and the IMF.
13 January 2014 г.
Sergey Shatalov: Now, Kyrgyzstan Meets All EDB Requirements
Deputy Chairman of the EDB Management Board, ACF Manager, Sergey Shatalov spoke to VB about the status and prospects of Kyrgyzstan’s cooperation with Eurasian Development Bank and EurAsEC Anti-Crisis Fund (ACF).
13 January 2014 г.
Sergey Shatalov: Only through Responsible Debt Management Policies, a Country Becomes a Magnet for Investments
At the end of last week, Deputy Chairman of the Management Board of Eurasian Development Bank (EDB) Sergey Shatalov arrived in Bishkek. In his capacity of the coordinator of the Bank’s activity in managing the resources of the EurAsEC Anti-Crisis Fund (ACF), the Deputy Chairman of the EDB Management Board met with a number of Kyrgyzstan’s senior officials. And right after the discussions, he talked to the K-News journalist. The editors are publishing the first part of the interview, in which Sergey Shatalov speaks about the projects that Kyrgyzstan plans to implement with credit resources of the Anti-Crisis Fund.
13 January 2014 г.
Deputy Chairman of the EDB Management Board: Poverty Should not Be Associated Only with Problems
K-News is publishing the second part of the interview with Deputy Chairman of the Management Board of Eurasian Development Bank Sergey Shatalov, who has shared his views on the prospects of our Republic in the framework of the Customs Union (CU) and the ways to fight poverty.
13 January 2014 г.
Sergey Shatalov: Money Remittances of Kyrgyz Labour Migrants will Go down
The risk of a massive return of Kyrgyz labour migrants from the Russian Federation is not high. That is the opinion shared with K-News by Deputy Chairman of the EDB Management Board Sergey Shatalov.
13 January 2014 г.
EBRD supports Kyrgyz food retail chain, NASH
The EBRD is supporting the expansion of the Kyrgyz small retail food chain, NASH, with a US$ 840,000 loan, which will partially finance the purchase of additional premises, trade and warehouse equipment and the construction of new facilities. The loan has been made under a joint EBRD-EU programmefor small business support.
20 December 2013 г.
IMF Executive Board Discusses Financial System Stability Assessment of the Kyrgyz Republic
On December 4, the Executive Board of the International Monetary Fund (IMF) discussed the Financial System Stability Assessment1 of the Kyrgyz Republic.
There is scope to further develop the Kyrgyz financial system, which would support growth and stability. The economy is largely cash based and financial services are limited, with low financial savings mobilization. With the exception of microcredit institutions, which have grown rapidly, the nonbank sector is not significant. Money markets are shallow, the interbank market is dormant, and weaknesses in the financial infrastructure hamper intermediation.
19 December 2013 г.
EBRD supports small businesses in Kyrgyz Republic
US$ 12 million equivalent syndicated loan to Kompanion Financial Group
The European Bank for Reconstruction and Development (EBRD) has completed the second syndicated loan in local currency in the history of the Kyrgyz financial sector. The loan –in Kyrgyz som equivalent to US$ 12 million –was made to Kompanion Financial Group, one of the largest microfinance institutions in the Kyrgyz Republic and a long-standing client of the EBRD.
The proceeds of the syndicated loan will allow Kompanion to expand its lending operations to micro, small and medium-sized enterprises (MSMEs), especially in rural areas. It will also reduce Kompanion’s exposure to the risk of sharp fluctuations in foreign currency exchange rates. This risk is particularly relevant to microfinance institutions (MFIs). In the past,MFIs have received only foreign currency funding, and their opportunities for hedging have been constrained.
16 December 2013 г.
UNHCR and the State Registration Service under the Government of Kyrgyzstan updated the National Action Plan on the Prevention and Reduction of Statelessness in the Kyrgyz Republic
13 December, Bishkek – Today, the United Nations High Commissioner for Refugees in Kyrgyzstan with the State Registration Service under the Government of the Kyrgyz Republic held a fourth High-Level Steering Meeting on the Prevention and Reduction of Statelessness in Kyrgyzstan. Government officials of all relevant state bodies, representatives of civil society organizations and experts reviewed progress on the implementation of the National Action Plan and discussed actions to be taken accordingly.