FINANCIAL DEVELOPMENT INSTITUTIONS AS A TOOL FOR MODERNIZING THE ECONOMY OF THE KYRGYZ REPUBLIC

The article analyzes the development indicators of the Kyrgyz Republic in the pandemic and postpandemic periods. It is noted that thanks to the measures taken by the government, the republic managed to enter the development trajectory, maintaining stable and the highest GDP growth rates among the EAEU member states for three years. Particular attention is paid to the financial support of economic development and modernization of the economy against the background of the effectiveness of economic policy. The authors define the role of development institutions in the modernization of the economy, and provide their classification. Based on the theoretical analysis, the role and importance of the characterized financial institutions in developed and developing countries are determined. The study examines the most significant development institutions in the global financial system, assesses the performance of banks and development funds in the Kyrgyz Republic.