BAKU, Azerbaijan, May 27. The Eurasian Development Bank (EDB) will provide Aiyl Bank in Kyrgyzstan an $8 million credit line to help the country's agro-industrial sector, Trend reports citing the press service of the EDB.
The corresponding framework agreement was signed within the framework of the Eurasian Economic Forum on May 26, 2022.
“We expect that the implementation of the project will support both agricultural producers and enterprises processing agricultural products. It is also expected to contribute to the achievement of economic growth goals by increasing output in the economy, creating new jobs, and increasing tax payments,” Chairman of the EDB Board Nikolay Podguzov said.
According to him, the agro-industrial sector plays a significant role in the economy of Kyrgyzstan and has great export potential and opportunities for building new trade relations and supply chains of goods between the EAEU member states.