Kyrgyzstan intends to borrow $1.9 billion in 2026

Kyrgyzstan intends to borrow $1.9 billion in 2026 to support its economic and social development, according to Deputy Finance Minister Umutzhan Amanbaev. Speaking at a Zhogorku Kenesh Committee meeting, Amanbaev addressed concerns about the nation's borrowing capacity and debt servicing.

Deputy Dastan Bekeshev questioned the total loan amount and the country's ability to manage its debt, noting that Kyrgyzstan is attracting significant loans from various international donors. Amanbaev assured the committee that the country can service its debt, citing the current public debt-to-GDP ratio of 41.7%, which is below the 70% limit. He projected that this ratio could decrease to 23% by 2023, even with anticipated loans.

Bekeshev's calculations suggested the total borrowing for 2026 might exceed $1.7 billion, reaching approximately $1.9 billion, a figure Amanbaev acknowledged.

The committee also reviewed a draft law ratifying a framework agreement between Kyrgyzstan and the Asian Development Bank (ADB) for financing between 2026 and 2027. Signed on May 3, 2026, in Samarkand, this agreement aims to foster development in priority economic sectors and promote social and economic growth aligned with the National Development Program until 2030.

Under this agreement, Kyrgyzstan will receive up to $450 million in concessional loans from the ADB's regular capital resources. Some of these loans may be supplemented or replaced by grants from ADB's special funds. Additionally, the agreement includes financing of $50 million from ADB's special funds, such as the Green Climate Fund and the Japan Fund. These concessional loans will be provided with a 32-year term, including an 8-year grace period with a fixed interest rate of 1% during the grace period and 1.5% thereafter.

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We will be able to service the debt. Currently, the public debt to GDP ratio is 41.7 percent. And the limit is 70 percent. By 2023, according to forecasts, taking into account the loans we are currently taking, we intend to reduce the level of public debt to 23 percent.