National Bank and the World Bank discussed implementation of the project on modernization of payment and banking system of Kyrgyzstan
Bishkek, July 25 / Kabar /. Chairwoman of the National Bank of Kyrgyzstan Zina Asankozhoeva met with the Executive Director of the World Bank for Azerbaijan, Kazakhstan, Kyrgyzstan, Poland, Serbia, Switzerland, Tajikistan, Turkmenistan and Uzbekistan Yorg Frieden.
The National Bank reports that, the purpose of the meeting was to discuss the projects implemented by the WB in the country. In particular, a joint project of the World Bank and the National Bank of the KR "Modernization of payment and banking system", implementation of which has started n September 2004. The loan amount under this agreement amounted to about $ 9 million, of which $ 7.6 million loan were allocated to the National Bank. By July 1, 2012, $ 6.4 million or 84.2% of the allocated funds have been disbursed.
The World Bank representative raised the issue of date of ratification by the Parliament of Kyrgyzstan another important project for development of financial sector of Kyrgyzstan, approved by the World Bank Board of Directors in March of this year. As part of this agreement a grant in the amount of $ 1.5 million will be allocated to strengthen the supervisory framework of the NBKR.
Since 1992 the World Bank approved loans to Kyrgyzstan on 48 projects totaling $ 1 billion 66 million. Loans granted on favorable terms: 40 years, with a ten-year grace period at a rate of 0.75% per annum.
As of May 31, 2012 public external debt of the Kyrgyz Republic to the World Bank made $ 657.3 million dollars.
At present, the World Bank finances in Kyrgyzstan 20 projects.
