Promoting Economic Diversification Program - Subprogram 3 (ADB-52225-004)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kyrgyzstan
Geographic location 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
Closed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 3, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Kyrgyzstan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
  • Infrastructure
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 22, 2024

Disclosed by Bank Sep 23, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the ADB, Subprogram 3 is the final subprogram in a programmatic series that was approved in 2019 with the financing of $50 million for subprogram 1. The program was originally designed with two subprograms. However, in 2021, it was restructured resulting in an additional subprogram and a new reform area.

The government plans to accelerate its economic diversification efforts and has prioritized the implementation of structural reforms to improve (i) trade and investment competitiveness, (ii) small and medium-sized enterprises development, (iii) infrastructure development (including through public-private partnerships, (iv) industry-based skills development, and (v) fiscal management and social protection. These efforts will enable the economy and the population to be more resilient to exogenous shocks in the future and will help improve the economy's medium-to long-term trajectory. This subprogram will continue to support the government in implementing complex reforms against the backdrop of significant macroeconomic challenges and constitutional changes by ensuring that planned reform efforts are supported.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ADB Team Leader:

Bobir Baisovich Gafurov - Public Management Specialist, CWRD
Navendu Karan - Principal Public Management Specialist, CWRD

No contacts available at the time of disclosure.

Executing Agency - Ministry of Finance:

Address: 58 Erkindik Avenue, Bishkek 720040, Kyrgyz Republic
Phone: +996312661645 / +996312625313
Email: minfin@minfin.kg
Website: www.minfin.kg

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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How it works