The Islamic Development Bank and the Republic of Kyrgyzstan signed financing agreements for three projects in the agriculture, energy, and education sectors, totaling $129.11 million. This includes a $15 million grant for the Global Partnership for Education (GPE), for which the Islamic Development Bank acts as a trustee.
The agreement, signed during the World Bank and International Monetary Fund spring meetings, aims to enhance comprehensive and quality education in Kyrgyzstan. The three funded projects prioritize sectors in the Kyrgyz Republic. One project will support a financing line to enhance agricultural mechanization to improve productivity and livelihoods in rural areas. The second will fund the construction of power transmission lines and substations in Tamga and Karakol in the Issyk-Kul region. The third will finance the Smart Education project to improve access to comprehensive and quality learning opportunities for all children in Kyrgyzstan.
Dr. Bandar Hajjar, President of the Islamic Development Bank, emphasized that these projects represent strategic investments in agricultural productivity, energy access, and comprehensive education, all of which are key empowerment factors for sustainable growth in Kyrgyzstan.
The Bank Group approved $631 million for 89 operations in the Kyrgyz Republic to support infrastructure development, private sector growth, and international trade. Additionally, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provided $48.1 million for business insurance and $0.7 million for new insurance obligations.
During the meeting between the President of the Islamic Development Bank and the Kyrgyz delegation, they discussed future cooperation prospects in energy, water, and sanitation production.
