President of Kyrgyzstan approves receipt of $50 million from Asian Development Bank

President Sooronbai Zheenbekov approved the ratification of the agreement to provide the Asian Development Bank to the Government of Kyrgyzstan with $50 million (3 billion 485 million rubles) within the framework of the Program of Rapid Response and Support of Expenses in the Fight against the Coronavirus Pandemic. This is reported by the press service of the Head of State. Read also: More than 11.9 billion rubles have been spent on servicing the state debt of Kyrgyzstan since the beginning of the year. It is noted that half of this amount the authorities of the republic will receive as a grant, and the second half in the form of a loan for 24 years, of which 8 years is a grace period. During the grace period, the interest rate will be set at 1% per annum, and then increase to 1.5% per annum. Read also: Kyrgyzstan again asks creditors to write off part of the debt