By Anton Usov

The European Bank for Reconstruction and Development (EBRD) is positive The Kumtor Gold Company Issue And Related Disputes will be soon resolved and has issued a statement to that effect.

EBRD says: “The European Bank for Reconstruction and Development (EBRD) takes note of the signing of the agreement between the Government of the Kyrgyz Republic, Centerra Gold, a Canadian-based gold mining company, and Kyrgyzaltyn, the largest domestic developer of gold deposits, to effect a transaction which will result in the resolution of the Kumtor Gold Company issue and related disputes.

The EBRD considers this signing to be a significant and positive step and urges the parties to fulfill all conditions of the agreement in full and in a timely fashion, so that the matter can be considered resolved and closed.

The EBRD has been making investments, supporting important reforms and providing business advice to small and medium-sized enterprises (SMEs) in the Kyrgyz Republic for more than 30 years. The Bank remains committed to supporting the country’s economic growth. The improvement of the domestic investment and business climate is key for a stronger private sector so that it can increasingly contribute to the Kyrgyz Republic’s prosperity.”