They discussed matters of mutual interest covering wide ranging topics, mainly on ways and means to enhance the IDB operations in the country. The IDB President congratulated the Kyrgyz Republic under the leadership of H.E. Kurmanbek Bakiev for the improvement in the macroeconomic performance of the country. The President also held meeting with the Prime Minister and the State Secretary.

President Bakiev honored the IDB President with the Order of Danaker for his contribution to the development of close cooperation between the country and the IDB. This Order is considered as one of the highest to be given to any civilian. The IDB President thanked President Bakiev and the people of Kyrgyz Republic for the honor given to him.

During the meetings with the President, the Prime Minister, State Secretary and the IDB Governor, they discussed several areas of cooperation, of particular importance were the IDB’s assistance in the area of development of Halal industry and Small and Medium Scale enterprises (SMEs). On development of Halal industry, the President IDB assured that the IDB will support this initiative with provision of technical assistance for transfer of knowledge from Malaysia. On the development of SMEs, the President IDB will discuss the possibility of extending line of financing to selected financial institutions in Kyrgyz Republic. In fact, the Islamic Corporation for the Development of Private Sector (ICD) has already extended line of financing to three financial institutions, including ECO Bank.

To date, total IDB Group financing in the Kyrgyz Republic amounts over US$ 86 million, over 95% goes for the financing of public sector projects focusing mainly on the transport and communications (43%) and energy (26%). The remaining part is directed to finance the various sectors of the economy. During the visit, the IDB President signed the Loan Agreement on project 110 KV Aigul – Tash to Samat Transmission Line and Substation project amounting US$ 12 million with the Minister of Finance. The project, approved by the IDB in April 2007 will provide reliable and sustainable supply of electricity to the consumers in the remote region of Batken district, which has a population of over 100,000 people. The project will help to bring economic development in the areas served by the power supply system.

The IDB President also visited Islamic University of the Kyrgyz Republic in which IDB assists in the construction of faculty buildings, procurement of equipment and furniture.