Kyrgyzstan plans to borrow $100M from Uzbekistan
Baku, Azerbaijan, August 1
By Fakhri Vakilov - Trend:
Today, the issue of obtaining a loan of $100 million by Kyrgyzstan will be considered within the framework of negotiations between the prime ministers of Kyrgyzstan and Uzbekistan, Minister of Economy of Kyrgyzstan Sanjar Mukanbetov has announced during a press-conference, Trend reports citing Kyrgyz media.
He stated that in the fall of 2018, the presidents of the two countries agreed to open a credit line. The loan will be received by businessmen of Kyrgyzstan through “Ayil Bank”.
These funds are proposed to be issued to entrepreneurs who are engaged in the processing of wool and hides.
He noted that currently the task is to increase the trade turnover between Kyrgyzstan and Uzbekistan to $ 1 billion. At the end of 2018, the figure was $340 million, for five months of 2019 - $130-140 million.
Uzbekistan exports to Kyrgyzstan exceed imports. Mainly, vegetables and fruits are exported, coal and cement are imported.
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