BISHKEK, Kyrgyzstan, December 11. The volume of non-sovereign financing from international financial institutions (IFIs) in Kyrgyzstan has totaled around $1 billion over the past 10 years, according to research by the Eurasian Development Bank (EDB), Trend reports.
According to the bank, the main investors in Kyrgyzstan's economy are the Russian-Kyrgyz Development Fund (RKDF), EDB, and the European Bank for Reconstruction and Development (EBRD). The share of RKDF in total financing over the period accounted for 66 percent.
The primary sectors funded by IFIs include industry (31 percent), finance (24 percent), and agriculture (15 percent).
It is noted that IFIs primarily provide investment loans (98 percent from 2015 through 2023). Other funding instruments include equity investments, guarantees, and technical assistance. Furthermore, 22 percent of projects were financed in Kyrgyz som, and 11 percent of projects had a multi-currency financing structure.
"EDB and the Russian-Kyrgyz Development Fund (RKDF) are leaders in non-sovereign financing in many areas, highlighting their crucial role in the sustainable development of Kyrgyzstan's economy," Alexey Kuznetsov, Head of Research Department at the EDB, said.
The EDB is a multilateral development bank established in 2006. The financial institution conducts investment activities across Eurasia, with member states including Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Belarus, and Armenia. The bank's authorized capital is $7 billion.
As of June 30, the EDB's investment portfolio totaled $4.8 billion, comprising 78 projects across all member countries. The bank's total investments in the economies of its member states have reached $15.3 billion.