Donors demonstrated support for reform efforts in the Krygyz Republic, Tajikistan and Kazakstan with cumulative pledges for the three countries amounting to $1.9 billion.

From October 30 to November 1, 1996, these were the first Consultative Group Meetings for Central Asian republics to be held in Tokyo and were preceded by IFC-sponsored investors' conferences.

The significance of these meetings were underscored by the presence of three prime ministers who headed their respective delegations.

On October 30, donors pledged continued support for the Kyrgyz Republic's economic reforms. Group members said they would support the Republic with about $450 million for balance of payments, technical and investment support in 1997.

On October 31, the first Consultative Group Meeting for Tajikistan was held. Tajikistan ranks as the poorest country among the FSU republics and faces enormous challenges. As noted by chairman Yukon Huang, World Bank Director for Europe and Central Asia, this first meeting was held to provide a forum for the government to inform the donor community about reforms and secure their support. Donors pledges amounted to $185 million in 1997.

On November 1, donors held the fourth Consultative Group Meeting for Kazakstan. Kazakstan has made significant progress over the past year privatizing state enterprises and stimulating economic growth. The state's involvement in the agricultural sector has been notably reduced. The group stressed that completion of enterprise restructuring was central to Kazakstan's reforms and that failure would undermine efforts to stabilize the economy. Donors indicated support totaling approximately $1.35 billion for the Republic of Kazakstan for 1997. For more information, call Jan Pakulski, 1-202-458-1423, e-mail at [email protected].