The Board of Executive Directors of the WB approved $30 million for the Strengthening Social Assistance and Labor Market Programs project for Kyrgyzstan.
The objectives of the project are to support the country in mitigating the impact of the economic crisis on poor households and labor migrants. It would also to use to strengthen effectiveness and resilience of the social assistance and labor market programs delivery systems to be better prepared for future shocks.
“High overall inflation and even higher food inflation, due to global crises, is likely to pose serious challenges for the Kyrgyz economy. The new project will directly support the priority task of the Cabinet of Ministers of the Kyrgyz Republic to improve the financial situation of socially vulnerable groups and the employment of citizens, while also contributing to building stronger social protection system,” said Naveed Hassan Naqvi, WB’s Country Manager for the Kyrgyz Republic.
The project aims to protect vulnerable populations of Kyrgyzstan through cash transfers and accompanying measures. It will also promote economic opportunities through access to productive inclusion initiatives and job opportunities.
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Sept. 7, 2022