President Sadyr Japarov of the Kyrgyz Republic met with Muhammad Al-Jasser, President of the Islamic Development Bank (IsDB), on June 7. The meeting, which focused on deepening bilateral cooperation and advancing joint projects, stressed the commitment of both parties to bolstering ties.
President Japarov warmly welcomed Muhammad Al-Jasser and extended congratulations on the occasion of the 50th anniversary of the Islamic Development Bank. He highlighted the pivotal role of the IsDB as a globally recognized financial institution that has significantly contributed to the development of member countries.
Highlighting Kyrgyzstan's stable economic growth amidst global challenges, President Japarov noted a historic milestone. Kyrgyzstan’s gross domestic product surpassed KGS 1 trillion ($11.5bn) in 2023.
The successful collaboration between Kyrgyzstan and the IsDB under the "My Home - 2021-2026" program was also discussed. The program, aimed at providing affordable housing, will receive a substantial allocation of $79mn from the IsDB. This funding is poised to benefit approximately 1,800 families.
President Japarov also emphasized the potential for collaboration in the energy sector, particularly in the construction of the Kambar-Ata-1 hydroelectric power station. He extended an invitation to the IDB to consider participation in this ambitious project.
In response, President Muhammad Al-Jasser expressed gratitude for the warm reception and commended Kyrgyzstan's impressive economic progress. Recognizing the nation's potential for green energy development, he expressed readiness to deepen cooperation in implementing large-scale projects.
Moreover, Muhammad Al-Jasser proposed financing initiatives for the construction of small hydroelectric power stations, human resource development, poverty reduction, and support for socially vulnerable families.
The meeting concluded with a significant gesture as President Japarov awarded Muhammad Al-Jasser the Order of Dostuk for his substantial contributions to the socio-economic development and enhancement of the well-being of the Kyrgyz Republic.
The Kyrgyz Republic became a member of the IsDB in November 1993, initiating a beneficial collaboration. Over the years, the IsDB Group has authorized around $558.8mn in funding for 80 projects within the nation.
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