New World Bank-Financed Project to Support Digital Transformation in Kyrgyz Republic

Stocks and Financial Services Press Releases Wednesday March 21, 2018 08:20
WASHINGTON--21 Mar--World Bank

WASHINGTON, March 20, 2018 – Citizens of the Kyrgyz Republic will have improved access to more affordable internet, better quality electronic government services, and opportunities for digital skills development and new jobs, thanks to the US$ 50 million financing for the Digital CASA (Central Asia-South Asia) – Kyrgyz Republic Project approved today by the World Bank's Board of Executive Directors. The project will be financed by a combination of a US$ 25 million grant and a US$25 million credit.

The objective of the Digital CASA - Kyrgyz Republic Project is to increase access to more affordable internet, attract more private investments in the ICT sector, and improve the government's capacity to deliver digital government services in the Kyrgyz Republic.

The project is aligned with the Kyrgyz government's high priority initiative called Taza Koom, which means "Clean Society." It is the Government's Digital Transformation Strategy, envisioned to build a transparent and efficient public administration system that provides improved public services, based on digitalization and streamlining of administrative processes. The Digital CASA - Kyrgyz Republic project will build foundations for the implementation of this initiative, which is a crucial pillar of the country's National Sustainable Development Strategy 2018-2040.

"The World Bank supports the digital transformation agenda in Kyrgyzstan and the Government's Taza Koom program, as digital technologies can be a powerful enabler of inclusive and sustainable economic growth and development," says Bolormaa Amgaabazar, World Bank Country Manager for the Kyrgyz Republic. "The Digital CASA - Kyrgyz Republic project will be instrumental in developing national and regional ICT infrastructure, promoting public sector reforms, unlocking Kyrgyzstan's export potential, and creating new investment opportunities for Kyrgyz businesses, as well as new quality jobs for the people."

The project will support the development of a regionally integrated digital infrastructure, promoting more affordable, high-quality internet access for the people by bringing in more private sector investments in network infrastructure development and service provision at the regional and national levels. It will also support building regional cloud-based datacenter infrastructure and platforms for the government and the private sector to deliver better and more secure services. Another important element of the project is the creation of an enabling environment for the digital economy through strengthening and harmonizing the laws and regulations related to the digital economy across the region.

"The project will have a strong emphasis on crowding-in private investment towards closing the 'digital divide', empowering underserved communities, youth, and women, while improving the government's capacity to deliver public services," says World Bank's Lead ICT Policy Specialist and Task Team Leader of the Project Juan Navas-Sabater.

The Digital CASA-Kyrgyz Republic Project is part of a larger integrative Digital CASA regional program, and Kyrgyzstan is one of the first two countries together with Afghanistan to join it. The goal of Digital CASA is to integrate the landlocked countries of Central Asia and parts of South Asia into the regional and global digital economies to enable them to start reaping digital dividends.

The World Bank's overall mission in the Kyrgyz Republic is to reduce poverty and promote economic growth and shared prosperity. Fifty percent of the World Bank's assistance to the Kyrgyz Republic is in the form of grants. The other 50 percent is highly concessional credits with no interest and a 0.75 percent service charge. Credits are repayable in 38 years, including a 6-year grace period, while grants require no repayment. The Bank's financial assistance to the Kyrgyz Republic since 1992 amounts to over US$1.5 billion in the form of grants and highly concessional credits


Latest Press Release

TQM to float 75m IPO shares to finance online platform introduction for digital insurance

SEC has start counting Day 1 on TQM's filing for an IPO of up to 75,000,00 shares at THB 1.0 each, to raise fund to development an online platform that will suit the current digital environment. TQM's management are working to grow the company's four...

UOB and Grab announce strategic regional alliance to accelerate the use of digital services among ASEAN#s consumers

Alliance will fuel Grab's ambition to build ASEAN's first everyday "super app" and complement UOB's efforts to scale up its regional customer franchise United Overseas Bank Limited (UOB) and Grab today announced they have entered into a strategic...

Photo Release: KBank teams with Thai Lion Air to kick off air ticket payment service via QR code

Mr. Vallop Vongjitvuttikrai (second from left), KBank Executive Vice President, and Mr. Aswin Yangkirativorn, Chief Executive Officer of Thai Lion Mentari Co.,Ltd., launched the payment-acceptance service for Thai Lion Air tickets via QR code on K PLUS...

Alibaba Group Announces September Quarter 2018 Results

Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter ended September 30, 2018. "Alibaba had another strong quarter of rapid growth. In particular, annual active consumers increased by 25 million to reach 601...

Photo Release: KBank welcomes participants of Dream toward Government House Realized by the Military Program

Recently, at KBank Rat Burana Main Branch, President Kattiya Indaravijaya welcomed the youths who take part in the "Dream toward Government House Realized by the Military" Program Class 5 of 2018, organized by Suranaree Force and Internal Security...

Related Topics