Day: April 13, 2024

BISHKEK: President of Kyrgyzstan Sadyr Zhaparov has signed a law to ratify an agreement with the Japan International Cooperation Agency (JICA) aimed at improving irrigation canal equipment, Trend reports.

According to the presidential press service, the agreement signed between JICA and Kyrgyzstan’s Cabinet of Ministers on December 11, 2023 in Bishkek was approved by Kyrgyzstan’s parliament on March 13, 2024.

JICA will award the Kyrgyz Cabinet of Ministers 1.087 billion Japanese yen (about $7.25 million) under the terms of the agreement. These monies will be used to purchase earthmoving and other equipment by Kyrgyzstan’s Water Resources Service, which is part of the Ministry of Water Resources, Agriculture, and Processing Industries.

Furthermore, the funding will help with the renovation and building of water management infrastructure to ensure efficient maintenance of the state irrigation fund and an ongoing supply of irrigation water to rural producers.

As part of the project, the grant funds will also
be used to purchase 44 units of earthmoving and other equipment.

JICA is the biggest bilateral development aid organization in the world, with an annual operating budget of over $15 billion. JICA serves as Japan’s ODA’s “one-stop shop,” offering a variety of services such as grants, financing and investment, volunteers, technical cooperation, and private sector partnerships. As one of the world’s largest bilateral aid agencies, JICA operates in more than 150 countries and regions and has approximately 90 overseas offices.

Source: Trend News Agency

BISHKEK: Kyrgyzstan’s international reserves have currently reached $3.491 billion, the country’s President Sadyr Zhaparov said during an interview with local media, Trend reports.

“International reserves had dropped to $2.424 billion by 2020. The present staff at the National Bank has boosted them by $1.067 billion over the past three years,” he said.

Zhaparov noted that gold reserves stood at only 16 tons in 2020. Currently, the National Bank’s reserves are 51 tons. He stated that Kyrgyzstan had gained 16 tons in 30 years of independence, and 35 tons in just three years.

Furthermore, the president underlined that the country’s inflation rate has now dropped to 5.2 percent, thanks to the National Bank’s efforts, which is much lower than in other nations in the area.

According to the National Bank of Kyrgyzstan, the country’s annual inflation rate was 5 percent in February 2024, down from 7.3 percent in December 2023. The rise in food prices continues to moderate.

Source: Trend News Agency

BISHKEK: Kyrgyzstan’s international reserves have currently reached $3.491 billion, the country’s President Sadyr Zhaparov said during an interview with local media, Trend reports.

“International reserves had dropped to $2.424 billion by 2020. The present staff at the National Bank has boosted them by $1.067 billion over the past three years,” he said.

Zhaparov noted that gold reserves stood at only 16 tons in 2020. Currently, the National Bank’s reserves are 51 tons. He stated that Kyrgyzstan had gained 16 tons in 30 years of independence, and 35 tons in just three years.

Furthermore, the president underlined that the country’s inflation rate has now dropped to 5.2 percent, thanks to the National Bank’s efforts, which is much lower than in other nations in the area.

According to the National Bank of Kyrgyzstan, the country’s annual inflation rate was 5 percent in February 2024, down from 7.3 percent in December 2023. The rise in food prices continues to moderate.

Source: Trend News Agency

DUSHANBE: The European Bank for Reconstruction and Development (EBRD) has approved a provision of a $5 million loan for Tajikistan’s Arvand Bank, Trend reports.

According to the EBRD, the loan is provided under the GCF-Green Economy Financing Facility Regional Framework (GCF-GEFF Programme in Tajikistan II). Out of the total amount, up to $3.75 million is to be provided by the EBRD and up to $1.25 million by the GCF.

The funds from the loan will be directed towards climate change mitigation and adaptation technologies. This transaction will aid in expanding Arvand’s range of products by introducing green lending options, with a focus on gender responsiveness.

Meanwhile, the current loan portfolio of the EBRD in Tajikistan amounted to 482 million euros for 69 active projects as of January 31, 2024.

As of the reporting date, the EBRD’s cumulative investments in Tajikistan totaled 919 million euros, spread across 165 projects, with the private sector’s share in the portfolio amounting to 13 percent.

Arvand
Bank provides a comprehensive suite of banking services, focusing mainly on the retail and MSME sectors in Tajikistan. As of the end of 2023, Arvand ranks as the ninth-largest bank by assets and the fourth-largest by loan book among banks in Tajikistan.

Source: Trend News Agency

DUSHANBE: The European Bank for Reconstruction and Development (EBRD) has approved a provision of a $5 million loan for Tajikistan’s Arvand Bank, Trend reports.

According to the EBRD, the loan is provided under the GCF-Green Economy Financing Facility Regional Framework (GCF-GEFF Programme in Tajikistan II). Out of the total amount, up to $3.75 million is to be provided by the EBRD and up to $1.25 million by the GCF.

The funds from the loan will be directed towards climate change mitigation and adaptation technologies. This transaction will aid in expanding Arvand’s range of products by introducing green lending options, with a focus on gender responsiveness.

Meanwhile, the current loan portfolio of the EBRD in Tajikistan amounted to 482 million euros for 69 active projects as of January 31, 2024.

As of the reporting date, the EBRD’s cumulative investments in Tajikistan totaled 919 million euros, spread across 165 projects, with the private sector’s share in the portfolio amounting to 13 percent.

Arvand
Bank provides a comprehensive suite of banking services, focusing mainly on the retail and MSME sectors in Tajikistan. As of the end of 2023, Arvand ranks as the ninth-largest bank by assets and the fourth-largest by loan book among banks in Tajikistan.

Source: Trend News Agency

DUSHANBE: The European Bank for Reconstruction and Development (EBRD) has approved a provision of a $5 million loan for Tajikistan’s Arvand Bank, Trend reports.

According to the EBRD, the loan is provided under the GCF-Green Economy Financing Facility Regional Framework (GCF-GEFF Programme in Tajikistan II). Out of the total amount, up to $3.75 million is to be provided by the EBRD and up to $1.25 million by the GCF.

The funds from the loan will be directed towards climate change mitigation and adaptation technologies. This transaction will aid in expanding Arvand’s range of products by introducing green lending options, with a focus on gender responsiveness.

Meanwhile, the current loan portfolio of the EBRD in Tajikistan amounted to 482 million euros for 69 active projects as of January 31, 2024.

As of the reporting date, the EBRD’s cumulative investments in Tajikistan totaled 919 million euros, spread across 165 projects, with the private sector’s share in the portfolio amounting to 13 percent.

Arvand
Bank provides a comprehensive suite of banking services, focusing mainly on the retail and MSME sectors in Tajikistan. As of the end of 2023, Arvand ranks as the ninth-largest bank by assets and the fourth-largest by loan book among banks in Tajikistan.

Source: Trend News Agency