The Parliament of Kyrgyzstan has ratified the budget support from the Asian Development Bank (ADB) in the amount of $50 mln in the first reading, Economist.kg.reports.
Ruslan Tatikov, Deputy Minister of Finance of Kyrgyzstan, presented information on the “Building Resilience Through Active Countercyclical Expenditures (BRACE)” agreement between the Kyrgyz Republic and ADB. The program is aimed at mitigating the negative impact of the new crisis associated with geopolitical instability in the world on the incomes of the population, especially vulnerable groups of the population, economic opportunities and macroeconomic stability through the timely adoption of countercyclical measures.
To implement this program, ADB will provide financial assistance to support the budget in the amount of $50 million, of which $25 million is a grant and $25 million is a loan. These funds are intended to support the state budget of Kyrgyzstan.
CentralasianLIGHT.org
December 1, 2022