ADB Provides $50 Million to Enhance Public Management in Kyrgyzstan
The Asian Development Bank (ADB) is providing $50 million to support fiscal and public management reforms in the Kyrgyz Republic, as reported by ADB itself. The funding includes a $43 million policy-based concessional loan and a $7 million grant. This financial assistance aims to enable more public funding for the nation’s low carbon transition and climate adaptation needs, as well as integrate gender inclusiveness into budget processes.
The Kyrgyz economy is facing vulnerabilities to macroeconomic shocks due to a lack of economic diversification, weaknesses in governance, and limited fiscal space. These factors also restrict the government’s capacity to respond to emerging challenges. As one of the most vulnerable countries to the impacts of climate change, the Kyrgyz government is eager to strengthen public financial management to ensure funding for key sectors.
ADB’s Sustainable Fiscal Management and Governance Improvement Program consists of two subprograms that aim to strengthen public financial management, improve corporate governance and procurement of state-owned enterprises, enhance tax policy and administration, and increase transparency and accountability in public administration. The program is expected to support resilient and inclusive economic growth through a series of institutional reforms.
Yevgeniy Zhukov, ADB Director General for Central and West Asia, expressed ADB’s commitment to assisting the Kyrgyz Republic in overcoming development constraints and strengthening governance through anti-corruption policies and initiatives. The program aims to improve the efficiency of public institutions and public finance management to ensure sound governance and greater transparency.
This year marks the 30th anniversary of the partnership between ADB and the Kyrgyz Republic, with over 217 projects and technical assistance provided in key economic sectors. This long-standing cooperation highlights ADB’s dedication to supporting the development and growth of the Kyrgyz Republic.
