EBRD will provide support to Kyrgyzstan to recover from the recent unrest

/IRBIS, April 29, 2010/ - The European Bank for Reconstruction and Development (EBRD) provides support for the restoration of Kyrgyzstan, stated in the EBRD on April 28. As indicated, EBRD delegation headed by Olivier Decamps, EBRD Director for Central Asia, Caucasus, Eastern Europe and Turkey, will travel to the Kyrgyz Republic on April 28-30 to assess the needs of the country in the private sector in connection with the recent unrest, as well as to offer support to the bank for reconstruction and further development of the country. In discussions with the interim government of the Republic, the EBRD, as the largest investor in the Kyrgyz private sector, will address ways to address the resumption of activity and job creation in private business. The visit follows with the recent call by Mr. Thomas Mirow EBRD President to the international community to work together to coordinate their efforts in the Kyrgyzstan Republic because of the recent outbreak of violence. The first task will be to assess the immediate needs of the country, together with long- term development challenges facing the Central Asian country. Offers EBRD indicated in letters to the heads of the Asian Development Bank, International Monetary Fund, Islamic Development Bank, United Nations Development Program United Nations and the World Bank. EBRD President suggested that a coordinated approach of international organizations that will use the respective advantages and can improve response. As noted, such cooperation has borne fruit against Georgia in 2008 and in the general context of the global economic crisis. In cooperation with the IMF, other international financial institutions and major bilateral donors, the Bank will consider providing support to strengthen, in particular the banking sector, improving its efficiency and ensure continued access to credit for micro, small and medium-sized enterprises in the private sector. In addition, the Bank intends to offer its support for the resumption of trade through direct funding to the bank and existing customers in the banking and non-bank microfinance institutions in Kyrgyzstan. As indicated in the message, the Bank is ready to consider new financial tools and technical assistance to support the development of the agricultural sector. In addition, the Bank will work with key international and bilateral donors to improve the investment climate in the country and is ready to provide technical assistance as needed. [2010-04-29]