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NEWS

Kyrgyzstan ratifies agreement on financial mechanism with ADB

en.kabar.kg/
20 May 2020

President of the Kyrgyz Republic Sooronbay Jeenbekov signed the Law "On Ratification of the Agreement on the Financing Mechanism (Special Operations) between the Kyrgyz Republic and the Asian Development Bank, signed on December 25, 2019 in Bishkek," the press service of the President reported.

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on April 30, 2020.

In accordance with this Law, the Ministry of Finance of the Kyrgyz Republic is required to notify the Asian Development Bank on the implementation of domestic procedures necessary for the entry into force of this Agreement by the Kyrgyz Republic.

The law comes into force 10 days after the date of its official publication.

The purpose of the Agreement is to finance small-scale activities for the construction and rehabilitation of water supply and sewage systems in the cities of Osh, Karakol, villages of Naryn Oblast, Bazar-Korgon region of Jalal-Abad Oblast.

To implement the Agreement, the Asian Development Bank provides financial resources in the amount of USD 10 million US in the form of a grant.