The World Bank will provide $12 million on the development of villages in Kyrgyzstan. The draft agreement Rural Investment between Kyrgyzstan and the International Development Association approved in the Parliamentary Committee on Foreign Affairs on Monday.
As told at a meeting of deputy finance minister Mirlan Baigonchokov, allocated $12 million, of which credit of 6.6 million and a grant of 5.4 million. The loan is allocated for 38 years with a 6 years grace period at an interest rate of 0.75.
The project was prepared in order to overcome poverty in rural areas through the development of the capacity of institutions of local government for the planning and implementation of local development programs.
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