President Sadyr Japarov of the Kyrgyz Republic welcomed a delegation from the World Bank led by Executive Director Dominique Favre on March 4, for discussions on bolstering cooperation between Kyrgyzstan and the international financial institution, the presidential press service reported. The meeting, which delved into priority areas of partnership and future prospects for collaboration, highlighted key sectors such as energy, water resources, and transportation.
Acknowledging the pivotal role of the World Bank in Kyrgyzstan's economic advancement, President Japarov expressed gratitude for the institution's steadfast support over the past three decades. He emphasized the contribution made by the World Bank to the socio-economic progress of the country, noting the recent economic growth rates, with 2022 seeing a 9% growth and 2023 at 6.2%, marking the highest figures in a decade. Last year, Kyrgyzstan's GDP soared to KGS 1.2 trillion ($13.4bn), reaching a historic milestone.
Amidst global concerns regarding climate change, President Japarov underscored the imperative of developing green technologies, particularly in hydropower. Highlighting the Kambar-Ata-1 hydroelectric power station as a major energy project in Central Asia, he expressed confidence in the World Bank's continued support, which could potentially attract resources from other international financial institutions.
Additionally, the president emphasized the significance of enhancing road infrastructure, crucial for economic activity and investment attractiveness, and the importance of the China-Kyrgyzstan-Uzbekistan railway project in the transport sector.
In response, World Bank Executive Director Dominique Favre commended the progress achieved by Kyrgyzstan in recent years and reaffirmed the institution's commitment to supporting the country's development endeavors. Favre noted the favorable investment climate created by Kyrgyzstan and pledged the World Bank's support in advancing priority areas, particularly in the energy sector, highlighting a project aimed at preparing a feasibility study for the Kambar-Ata HPP-1.
Furthermore, both parties concurred on the significance of addressing climate change, with the World Bank expressing readiness to provide necessary assistance, knowledge, and experience to Kyrgyzstan in tackling this pressing global issue.
The meeting concluded with a mutual expression of strong confidence in continued close and fruitful cooperation, aimed at propelling the socio-economic development of Kyrgyzstan.
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