The World Bank Group
The World Bank Group is one of the world's largest organizations assisting the development process. In fiscal 2002 the Bank provided loans for $19.5 billion to the client countries. It implements its activities in more than 100 developing countries focusing on helping the poorest people and the poorest countries.
The Bank mission is to fight poverty with passion and professionalism for lasting results. The Bank helps people to help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnership in the public and private sectors.
The World Bank Group is the organization involved in the development issues aimed to fight poverty by promoting sustainable economic growth in the client countries. Development is a
long-term process in the long run leading to reorganization of the whole society. It envisages development and implementation of the appropriate financial and economic policy. However, it also provides for the empowerment of population, road construction, law development, women's rights acknowledgement, organization of education for girls, corruption eradication, environmental protection, children vaccination, and others.
The main objective is to help the poorest people and to the poorest countries, the Bank, however, in all countries emphasizes the need to:
- invest in human capital, especially through development of basic health care and education services;
- focus efforts on the issues of social development, population mobilization, public administration and institutional strengthening as key components of poverty alleviation;
- build the capacity of governments in efficient and transparent delivery of high-quality services;
- protect environment;
- support and promote private sector development;
- contribute to reforms aimed at establishing sustainable macro-economic framework favorable for investments and long-term planning.
The more detailed information is available on the site of the World Bank Office in the Kyrgyz Republic at www.worldbank.org.kg .
Sources of Financing
Village Investment Project
- The World Bank — USD 15 million;
- The World Bank — USD 15 million (VIP-2);
- The Government of Japan — USD 1 million 149 thousand;
- Contribution of the Government of the Kyrgyz Republic and communities — about USD 3 million.
Small Town Infrastructure and Capacity Building Project
- The World Bank — USD 15 millions where USD 3 millions delivered on a grant basis and USD 12 millions as a loan;
- Co-financing by local self-governance institutions of the Kyrgyz Republic: USD 0.5 million.
Co-financing of Village Investment Project (VIP-KfW) in the Kyrgyz Republic
- Government of federal republic of Germany;
- Euro 6 million loan for the implementation of Village Investment Project;
- Euro 2 million grant delivered for the same Project;
- Government of Kyrgyzstan / Local governments: 200.000 Euro.
Rural Livelihoods Development Project
- Japanese Foundation for Poverty Reduction (JFPR) through the Asian Development Bank: USD 1 million.
Local Self Governance Capacity Strengthening Within Fiscal Decentralization Reform
- The World Bank grant of USD 384.000.