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IFC Helps Central Asian Countries Boost Private Investment


In Bishkek:
Kymbat Ybyshova
Phone +99 631 262 6162

E-mail:
KYbyshova@ifc.org  


December 11, 2013, Bishkek, Kyrgyz Republic—IFC, a member of the World Bank Group, is helping the countries of Central Asia create an investment-friendly business climate, part of an effort to encourage economic growth across the region.

Today in Bishkek, IFC is opening a conference that will explore regional investment incentive practices and highlight policies from other countries that have helped bolster private investment. The two-day event is expected to bring together 60 participants from Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan. The event is designed to harmonize investment policies across the region, where differences between countries can create confusion and uncertainty for investors.


“The Kyrgyz government intends to continue its work to improve the business environment, including strengthening its investment policy in order to promote investment inflows,” said Joomart Otorbaev, the Kyrgyz Republic’s First Vice-Prime Minister. “I am looking forward to hearing the recommendations that come from the conference and seeing further implementation of incentive policies and tools in the Kyrgyz Republic.”


Moazzam Mekan, IFC Regional Manager for Central Asia, said, “The region has much to offer, and to gain, from international companies, but it faces challenges in promoting both local and foreign private investment. Implementing transparent, evidence-based incentive practices to facilitate investment can play a key role in helping economies across the region.”  


The initiative is a part of IFC’s efforts to improve the investment climate in the region by facilitating investments and reducing compliance costs for businesses. The Central Asia Investment Climate Program is made possible with financial support from the government of Switzerland and the United Kingdom’s Department for International Development.


About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org.

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About Swiss Assistance

The Swiss Government provides assistance for the development of the Kyrgyz Republic and supports projects in areas such as healthcare, private sector development, public sector reform, and infrastructure. Since 1993 Switzerland has provided more than CHF 270 million to Kyrgyzstan in the form of technical, financial and humanitarian support. For more information, please visit
www.swisscoop.kg  
About the Department for International Development

The Department for International Development leads the UK’s work to end extreme poverty. We're ending the need for aid by creating jobs, unlocking the potential of girls and women, and helping to save lives when humanitarian emergencies hit. For more information, please visit
www.dfid.org