Four Development Agencies Conclude Country Review with the Kyrgyz Republic
BISHKEK, KYRGYZ REPUBLIC - The Government of the Kyrgyz Republic and four international financial institutions (IFIs), ADB, the Islamic Development Bank (IsDB), KfW German Development Bank, and World Bank (WB) today concluded their third Joint Country Portfolio Review (JCPR) that began on 6 March. Akylbek Japarov, the Minister of Economy and Finance on behalf of the Government, and country representatives of four IFIs today signed the Memorandum of Understanding on the 2006 Review. JCPR discussed the performance of the IFI-financed projects in the context of results-based management and the progress toward achieving development objectives. It also reviewed the status of the 2004 JCPR action plan and the project-specific and generic implementation problems still faced by projects. The participating IFIs in the JCPR contribute a substantial part of the public investment program aimed at promoting economic growth and poverty reduction in the country. The JCPR identified systematic and project-specific problems affecting portfolio performance. This review could also contribute to improved portfolio performance, which in turn could facilitate higher resource allocation under the performance-based allocation formula used by the IFIs. The Kyrgyz Republic joined the World Bank in 1992, IsDB in 1993, and ADB in 1994. It also became a partner country of KfW in 1993. The Kyrgyz Republic, a low-income country with high debt vulnerability, is eligible to receive a significant level of grants. Since 2005, the World Bank has been providing all assistance in grants. Likewise, since 2005, ADB has been providing up to half of its annual assistance on grant basis. Also, 42.2% of all KfW previous allocations, including last year's commitments for future projects, were provided as grants. As of 31 December 2005, the cumulative assistance of the participating IFIs reached $1,436.7 million, including $609.7 million from ADB (42.4%), $51.6 million from IsDB (3.6%), $94.9 million from KfW (6.6%), and $680.5 million from the World Bank (47.4%). This assistance comprises a total of 85 operations for policy-based budget support, investment projects both on lending and grant basis, and IDB's installment sale type operations. There are 39 operations ongoing. Using the results-based management approach, the Government and the IFIs prepared a 2006 Joint Portfolio Management Framework aimed at improving portfolio performance and ensuring the achievement of development objectives. The Government and IFIs will review progress in implementation of the PMF periodically, and revise it as needed. The JCPR findings would provide useful input for the Joint Country Support Strategy being prepared jointly by ADB, Department for International Development of the United Kingdom, Swiss Cooperation Office, the United Nations, and World Bank. For more information, please contact: ADB:
Valeri Tian
Tel: (996 312) 62 73 43
Email: vtian@adb.org IsDB:
Ulan Abylgaziev
Email: ulan_roa@nursat.kz KfW:
Olga Gorovenko
Email: kfw@elcat.kg WB:
Dinara Djoldosheva
Email: ddjoldosheva@worldbank.org About ADB | 
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