Bishkek, April 23, 2025. /Kabar/. On the sidelines of the IMF and World Bank Group Spring Meetings in Washington, Chairman of the Cabinet of Ministers - Head of the Presidential Administration of Kyrgyzstan Adylbek Kasymaliev met with Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Turkey, Afghanistan and Pakistan Hela Sheikhroukhu.
The Cabinet of Ministers reported that during the meeting the parties discussed current IFC projects in the Kyrgyz Republic and prospects for expanding cooperation, in particular in the field of alternative energy, water supply, small and medium-sized businesses, and investments.
Adylbek Kasymaliev emphasized the importance of attracting private investment for sustainable economic growth of the country and expressed gratitude to IFC for the providedsupport.
"Today we can confidently state that the Kyrgyz Republic is creating a favorable and sustainable business environment open to investment and partnership. The center of our state policy is the development of the private sector, strengthening the rule of law, protecting investors and ensuring transparency of all processes. We are actively working on digitalization, reducing administrative barriers and strengthening the legal protection of investors," said Adylbek Kasymaliev.
Particular attention was paid to the efforts of the Kyrgyz government to improve the investment climate.
"Thanks to joint efforts, in order to improve the investment climate, a new draft Law on Investments was submitted to the Parliament, aimed at eliminating barriers to foreign direct investment, introducing investor protection mechanisms and effectively resolving disputes. For my part, I would like to confirm the commitment of the Cabinet of Ministers of the Kyrgyz Republic to the protection of private property and the rights of investors," the head of the Cabinet noted.
Adylbek Kasymaliev also emphasized that the economy of the Kyrgyz Republic is in need of investment, and private investment is a key factor in ensuring sustainable economic growth. He spoke about the ongoing reforms to de-bureaucratize and transfer certain public services to the private sector through public-private partnership (PPP) and outsourcing mechanisms aimed at reducing bureaucratic barriers and increasing trust in government institutions.
"A significant event is the increase in the country's credit rating to "B+" with a "Stable" outlook according to Standard & Poor's (S&P Global Ratings). This was achieved due to high macroeconomic indicators, a stable fiscal position, sustainability of public debt and ongoing structural reforms in the country aimed at supporting business, modernizing infrastructure and improving the investment climate," the head of the Cabinet noted.
During the meeting, the issue of increasing the authorized capital of the International Finance Corporation (IFC) was also raised. The head of the Cabinet also added that the government will closely monitor that all investments attracted to Kyrgyzstan meet the principles of sustainable development and benefit the local population.
Hela Sheikhrouhu noted the positive changes in the investment climate of Kyrgyzstan and confirmed IFC's interest in expanding its activities in the country. She expressed readiness to consider new projects and areas of cooperation that meet the development priorities of the Kyrgyz Republic. In addition, she informed about IFC's readiness to invest in projects in the field of renewable energy and water supply in the amount of more than 130 million US dollars. In conclusion of the meeting, Adylbek Kasymaliev expressed confidence in further strengthening and expanding fruitful cooperation between the Kyrgyz Republic and the International Finance Corporation, thanking IFC for its ongoing support in matters of sustainable development and economic growth of the country.