Washington D.C., United States, 22 April 2025 – On the sidelines of the Spring Meetings of the World Bank and International Monetary Fund, the Islamic Development Bank (IsDB) and the Kyrgyz Republic signed financing agreements of three projects in the Agriculture, Energy, and Education sectors, totaling USD 129.11 million, Including a US$15 million grant financing of the Global Partnership for Education (GPE), for which the IsDB serves as trustee, to enhance inclusive and quality education in the country.

The agreements were signed between H.E. Dr. Muhammad Al Jasser, President of the Islamic Development Bank, and H.E. Mr. Almaz Baketaev, Minister of Finance of the Kyrgyz Republic and Alternate Governor of the IsDB. The signing was witnessed by H.E. Kasymaliev Adylbek Aleshovich, Chairman of the Cabinet of Ministers and Head of the Administration of the President of the Kyrgyz Republic.

The three financed projects aim to strengthen priority sectors in the Kyrgyz Republic. One will support is a Line of Financing for Promoting Agriculture Mechanization to improve productivity and rural livelihoods, while the 2nd will finance the Construction of Electricity Transmission Line and Substations in Tamga and Karakol in Issyk-Kul Region, and the third one is the financing of the Smart-Education Project for Improving Access to and Quality of Inclusive Learning Opportunities for all Children in the Kyrgyz Republic

In remarks following the signing, Dr. Al Jasser emphasized that these projects represent strategic investments in agricultural productivity, energy access, and inclusive education – all key enablers of sustainable growth in the Kyrgyz Republic.

To date, the IsDB Group has approved US$631 million for 89 operations in the Kyrgyz Republic, supporting infrastructure development, private sector growth, and international trade. Its insurance arm, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has provided US$48.1 million in business insurance and US$0.7 million in new insurance commitments.

The meeting between the IsDB President and the Kyrgyz delegation also explored prospects for future cooperation in energy production, water and sanitation. The delegation included H.E. Baketaev Almaz Kushbekovich, Minister of Finance, and H.E. Ibrayev Taalaibek Omukeevich, Minister of Energy, alongside other senior officials.