Chairman of the Cabinet of Ministers Adylbek Kasymaliev within the framework of his working trip to Washington on the margins of the Spring Meetings of the International Monetary Fund and the World Bank Group met with the World Bank Vice President for Europe and Central Asia Antonella Bassani.

Adylbek Kasymaliev expressed gratitude to the World Bank for the long-term strategic partnership and support provided by Kyrgyzstan. He noted that cooperation with the WB plays an important role in the implementation of national development programmes.

During the meeting, the parties thoroughly discussed the current economic situation in Kyrgyzstan, which has seen a steady economic growth of 9% over the past three years. The Head of the Cabinet stressed that high economic activity contributes to the creation of new jobs, which is a key priority for the Cabinet of Ministers of the Kyrgyz Republic and is in line with the basic principles of the World Bank's activities aimed at reducing poverty and promoting shared prosperity.

The Chairman of the Cabinet of Ministers noted the implementation of large-scale structural reforms aimed at stimulating business activity, supporting strategic industries, modernising infrastructure and significantly improving the investment climate.

In particular, it was noted that the country is actively implementing reforms to de-bureaucratise and transfer certain public services to the private sector through public-private partnerships and outsourcing mechanisms, which is designed to reduce bureaucratic barriers and increase confidence in public institutions.

The upgrade of Kyrgyzstan's credit rating to B+ with a stable outlook according to Standard & Poor's (S&P Global Ratings) was emphasised as a significant achievement. According to Adylbek Kasymaliev, this was possible due to high macroeconomic indicators, stable fiscal policy, sustainability of public debt and consistent implementation of the above-mentioned structural reforms.

The key topic of the talks was the discussion of the implementation of the Kambarata HPP-1 construction project, which is a priority for the Kyrgyz Republic. The head of the Cabinet of Ministers emphasised the strategic importance of this project for the energy security of the country and the region. He noted that Kambarata HPP-1 will become one of the largest hydroelectric power plants in Central Asia, will allow Kyrgyzstan to export electricity to neighbouring countries and significantly reduce carbon emissions.

«This project will make a significant contribution to the fulfilment of the country's obligations under the Paris Agreement and will contribute to the implementation of the global green agenda», — Adylbek Kasymaliev stressed.

In turn, Antonella Bassani praised the co-operation with Kyrgyzstan. She called the Kambarata HPP-1 construction project ‘a wonderful, transformative project’ for the whole region.

She also congratulated the head of the Cabinet on the signing of the historic agreement on the border with Tajikistan, stressing that this is an important step in strengthening regional stability and good-neighbourly relations.

Antonella Bassani expressed admiration for Kyrgyzstan's economic progress, noting the high dynamics of reforms and the significant progress of the Kambarata HPP-1 project. She emphasised that this project is one of the priorities for the World Bank.

Antonella Bassani also noted the significant progress in the implementation of the agreements reached during the meeting of Adylbek Kasymaliev as First Deputy Chairman of the Cabinet of Ministers at the previous autumn meetings, pointing to tangible results and positive changes in the country.

At the end of the meeting, the parties confirmed their mutual readiness to further strengthen fruitful cooperation and expressed strong confidence in the successful implementation of joint projects aimed at sustainable development of the Kyrgyz Republic, creation of new jobs, modernisation of infrastructure and increasing the competitiveness of the national economy.