BISHKEK, Kyrgyzstan, September 28. The Asian Development Bank (ADB) will assist Kyrgyzstan in developing public-private partnerships (PPP) in areas with high potential, such as digital technology, renewable energy, social services, and urban transportation, Trend reports.
A corresponding memorandum of understanding was signed between ADB and Kyrgyzstan's Public-Private Partnership Center in the National Investment Agency at the Second International PPP Conference in Kyrgyzstan.
Zheng Wu, ADB Country Director for Kyrgyzstan, explained that attracting private sector funds for PPPs development in Kyrgyzstan will lead to economic growth, job creation, and an improved quality of life.
He said that ADB has a successful history of implementing PPPs in the region and is now collaborating with government agencies and stakeholders to unlock Kyrgyzstan's renewable energy potential.
ADB's support for the Kyrgyz PPP Center will have several components. First, it will involve identifying potential PPP projects. Second, it will focus on preparing these projects for implementation. Third, it will aid in the actual execution of these PPP projects.
This assistance will not be limited to a specific geographic area, as it will encompass both central and regional entities within Kyrgyzstan.
ADB's advisory services will be provided by its Office of Market Development and Public-Private Partnership. It will be supported through the Asia Pacific Project Preparation Facility (AP3F), which helps create sustainable and inclusive PPP projects to address infrastructure needs in Asia and the Pacific.
