Bishkek, Kyrgyz Republic, March 3, 2009—IFC,
a member of the World Bank Group, and the government of Switzerland are
launching a five-year program to improve the Kyrgyz Republic’s business
environment by promoting reforms and helping facilitate private sector
Through the program, IFC will work with
state agencies and other organizations to identify and remove regulatory
barriers for starting and operating a business, as well as help streamline
inspections practices and tax administration. The program will monitor
changes to the country’s business environment through nationwide surveys
of the private sector. It will also promote private sector reforms and
help increase entrepreneurs’ legal awareness through a public outreach
campaign and foster dialogue between the government and private sector.
“Sustainable private sector development
in the Kyrgyz Republic is a top priority for the Swiss government,” said
Andrea Studer, Deputy Country Director for the Swiss Cooperation
Office in the Kyrgyz Republic. “The new program is an important step toward
achieving this goal and improving the regulatory environment for Kyrgyz
Since 2002, IFC has partnered with the
government of Switzerland in a number of Central Asian countries to help
improve the business environment, which has resulted in $66.4 million of
cost savings for local entrepreneurs.
“Building on our partnership with the
Swiss government, we will now apply our wealth of regional experience to
strengthen the private sector in the Kyrgyz Republic,” said Ellen Payne,
IFC Project Manager. “IFC is strongly committed to helping the Kyrgyz
government create a more favorable climate for business.”
The Kyrgyz Republic joined IFC in 1993.
IFC commitments to the country have reached nearly $75 million, including
investments and other advisory services with a focus on leasing, microfinance,
housing finance, and corporate governance.
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous
year. For more information, visit www.ifc.org.
The State Secretariat for Economic Affairs
is the Swiss Confederation’s competence center for all core issues related
to economic policy. Its aim is to create basic regulatory and economic
policy conditions to enable business to flourish and benefit all. SECO
also represents Switzerland in the large multilateral trade organizations
and international negotiations, and is involved in efforts to reduce poverty
and help developing countries with transition economies build sustainable
democratic societies and viable market economies. For more information,