Kyrgyzstan, IsDB partner to advance economy
Akylbek Zhaparov, the Chairman of the Cabinet of Ministers and Head of the Administration of the President of the Kyrgyz Republic, recently convened with Muhammad Al-Jasser, the President of the Islamic Development Bank (IsDB).
Zhaparov commended the robust trajectory of Kyrgyzstan’s national economy, citing a consistent uptrend in economic indicators since the onset of 2024. Highlighting the pivotal role of large-scale infrastructure and international initiatives, he particularly emphasized the importance of the Kambarata HPP-1 construction project.
The signing of a communiqué between the IsDB and the Ministry of Energy on the Kambar-Ata-1 hydroelectric power station was hailed as a milestone, with Zhaparov stressing its potential to enhance the water and energy balance of the Central Asian region.
With preparations underway for the construction of Kambarata HPP-1, Japarov announced plans for an international investment forum scheduled to take place in Vienna, Austria, on June 10-11, 2024. The forum aims to galvanize financial support for the project, leveraging IsDB’s pivotal role within the Arab Coordination Group (ACG) to attract funding.
Expressing gratitude for the IsDB’s contribution to the socio-economic development of Kyrgyzstan, Zhaparov affirmed the nation’s commitment to deepening and diversifying bilateral ties. The multifaceted cooperation between Kyrgyzstan and the IsDB spans various sectors, with mutual interest in expanding collaboration.
In response, Muhammad Al-Jasser conveyed appreciation for the warm reception and applauded Kyrgyzstan’s economic strides. He reaffirmed the IsDB’s commitment to fostering mutually beneficial partnerships and expressed eagerness to explore avenues for further cooperation.
During the deliberations, discussions encompassed the prospective establishment of an Islamic principles-based bank, IsDB’s involvement in the Social Contract project, and support for Kyrgyzstan’s exports of bottled water and agricultural products.
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