President, ADB head discuss co-op in face of external shocks related to COVID-19

Bishkek, March 26, 2020. /Kabar/. Kyrgyz President Sooronbay Jeenbekov met on Thursday with Candice McDeigan, the Country Director of the Asian Development Bank (ADB) for the Kyrgyz Republic. Issues of bilateral cooperation between Kyrgyzstan and the ADB in the face of external shocks associated with the spread of coronavirus infection were discussed, the President’s press service reported. Jeenbekov noted with satisfaction the positive experience of joint cooperation with the Bank, and expressed gratitude for the support of the Kyrgyz Republic in spheres of economy and its priority sectors. The Kyrgyz leader invited ADB to consider intensifying of bilateral cooperation and providing financial assistance for effective implementation of anti-crisis measures to prevent further spread of coronavirus infection and minimize economic risks for Kyrgyzstan. The ADB country director for Kyrgyzstan noted that most countries of the world faced a crisis situation in light of the spread of coronavirus infection, and assured ADB will mobilize funds to support the economies of the countries in combating the epidemic. Candice McDeigan said a request has been received from the Kyrgyz Government for emergency financial assistance, and the Bank has started assessing potential risks for the country's economy. She also emphasized that ADB will consult with other development partners to find additional funds to support the health system in state of emergency. The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. From 31 members at its establishment, ADB now has 68 members. To date, a total of 44 cases of coronavirus infection were registered in the republic.