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Agreement on additional financing for CAREC projects ratified

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President of the Kyrgyz Republic Sooronbay Jeenbekov signed the Law On ratification of the Loan Agreement (Standard Operations (on preferential terms) (Connection road project, 1 and 3 CAREC Corridors, Phase 2 Additional Financing) between the Kyrgyz Republic and the Asian Development Bank (ADB), signed on 28 Dec., 2018 in Bishkek and the Grant Agreement (Special Operations) (Connection road project, 1 and 3 CAREC Corridors, Phase 2 Additional Financing) between the Kyrgyz Republic and the Asian Development Bank signed on 28 Dec., 2018 in Bishkek, the press service of the Kyrgyz President reported.

The law was adopted by the Parliament on 27 June 2019.

In accordance with this Law, the Ministry of Finance shall duly notify the ADB of the completion of the domestic procedures, necessary for the entry into force of the above agreements.

The law comes into force after 10 days from the date of official publication.

Source: Kyrgyz National News Agency

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