BISHKEK, Kyrgyzstan, February 6. The Russian-Kyrgyz Development Fund (RKDF) and Azerbaijan-Kyrgyz Development Fund (AKDF) signed an agreement on joint financing of investment projects in Kyrgyzstan, Trend reports.
The purpose of this partnership is to promote the modernization and development of Kyrgyzstan's economy by implementing projects of economic and strategic importance for the country.
The investments will be made in the form of co-financing in the shape of lending and participation in the capital, as well as the use of other financial instruments concerning economic entities registered and operating in Kyrgyzstan.
Furthermore, it is noted that following the terms of the agreement, the estimated amount of funding for each project will equal at least $1 million from each fund.
“In implementing joint projects, RKDF and AKDF will proceed primarily from the principles of economic development of the Kyrgyz Republic. The objectives of the funds coincide. I am confident that such financial synergy will bring decent results”, said the Chairman of the Board of RKDF Artem Novikov.
In turn, the co-chairman of the AKDF Board Almaz Mambetov noted that the RKDF has extensive experience and competence in the field of business financing for 10 years of its existence.