COVID-19 Active Response and Expenditure Support Program (ADB-54169-001)

Countries
  • Kyrgyzstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 4, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Kyrgyzstan
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS May 9, 2020

Disclosed by Bank May 4, 2020


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Project Description

According to ADB website, the project aims to mitigate the significant negative economic and fiscal impact of the coronavirus COVID-19 pandemic. The government's planned fiscal stimulus package will protect essential social services, while taking credible steps to contain the spread of the pandemic and to mitigate its impact on the population. The Program was developed in close coordination and consultation with the International Monetary Fund (IMF), which confirmed in its 2020 Debt Sustainability Analysis (DSA) that the country remains at moderate risk of debt distress, with some room for concessional borrowing.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Executing Agency: Ministry of Finance
Public Debt Department Room 500
58 Erkindik Boulevard
Bishkek 720040, Kyrgzy Republic

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main