A significant milestone in the realm of infrastructure development and public-private partnerships (PPP) was achieved as the Asian Development Bank (ADB) and the Public Private Partnership (PPP) Center signed a Memorandum of Understanding. The agreement outlines a collaborative effort aimed at advancing PPP projects in Kyrgyzstan.
ADB's Support for Kyrgyzstan
Under the Memorandum of Understanding, ADB has committed to provide comprehensive support to Kyrgyzstan in the realm of PPP. This support encompasses various facets of PPP project development, including:
Identification and Preparation: ADB will assist in identifying viable PPP projects and preparing them for implementation. This support extends to both central and regional entities within Kyrgyzstan.
Strategic and Regulatory Advice: ADB will offer strategic and regulatory guidance related to PPP transactions. This advisory role aims to ensure the alignment of PPP projects with the country's economic policies and objectives.
Optimization of Commercial Value: A key focus of ADB's support is the optimization of commercial value within the context of Kyrgyzstan's economy. This optimization aims to maximize the benefits of PPP projects for the country and its citizens.
Expectations and Benefits
Sanjar Bolotov, Director of the PPP Center, expressed enthusiasm about the collaboration with ADB, emphasizing its potential to promote interaction between the public and private sectors in Kyrgyzstan. The partnership is also expected to attract foreign investment, technology, and innovation, contributing to the country's economic growth.
ADB's advisory efforts will be coordinated through its Market Development and Public-Private Partnership Department. Support will also be channeled through the Asia Pacific Project Preparation Facility, a multi-donor trust fund that specializes in providing technical assistance for sustainable and inclusive PPP projects in the Asia-Pacific region.
Zheng Wu, ADB Country Director for the Kyrgyz Republic, highlighted the importance of mobilizing private sector funds for PPP development in Kyrgyzstan. He cited areas such as digital technologies, renewable energy sources, and social and urban mobility as potential beneficiaries of private sector investments. These investments are expected to drive economic growth, job creation, and an improved quality of life for the country's population.
The signing of the Memorandum of Understanding between ADB and the PPP Center marks a significant step toward enhancing Kyrgyzstan's infrastructure through PPP projects. The partnership between these organizations is expected to unlock new opportunities for economic development, innovation, and foreign investment, ultimately benefiting the people of Kyrgyzstan.
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