The Kyrgyz Republic is a lower middle-income country. Growth has been subject to sharp fluctuations because of the narrow economic base. It has been primarily driven by remittances and minerals. The development of the private sector as the key engine of growth has been a major focus of reforms.  Micro, small and medium-sized enterprises (MSMEs) remain the dominant force in Kyrgyzstan’s private sector landscape.

The Project Strengthening capacities for sustainable development finance in the Commonwealth of Independent States (CIS) region was designed in 2017 when the global economy was in a deep downturn. The Project is pursuing two results:

• Building capacity for preparation and implementation of investment development projects in the Kyrgyz Republic;
• Building capacity of the CIS member-states in accessing new development finance sources.

Two main activities and actions pursued to achieve the expected results include:

Activity 1. Technical assistance to the Kyrgyz Republic in identification, preparation and implementation of bankable projects for financing from the Russian-Kyrgyz Development Fund (RKDF): Action 1.1. Support to the strategic programming of development operations by the government and Action 1.2. Preparation of the high priority projects for RKDF financing.

Activity 2. Technical assistance in project preparation for potential financing by IFIs to governmental and business entities in Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan, including the Eurasian Development Bank (EDB) clients: Action 2.1. Cooperation framework for targeted support to preparation of quality bankable projects for EDB's lending; Action 2.2. Capacity development for financial intermediary operations; and Action 2.3. Knowledge management to improve accessibility of development financing

The final evaluation of the Project covers the period from its starting date up to the date of the evaluation (2017-2021). The Project is expected to be completed at the end of 2021. The evaluation applied a non-experimental theory-based contribution methodology. Contribution analysis was used to develop an overall performance story and assess plausible Project contributions to observed changes. A mixed-methods approach was applied, involving a blend of qualitative and quantitative data collection methods such as a desk review and semi-structured interviews of Project trainings’ beneficiaries. Triangulation was applied for consistency, validity and reliability. The evaluation draws on the totality of evidence collected.