On December 3, a ceremonial event was held in Bishkek to mark the 10th anniversary of the Russian-Kyrgyz Development Fund (RKDF). This anniversary was an important occasion, reflecting on the fund’s work over the past decade and outlining new strategic directions for the future.

Role of the Fund

Founded in 2014, the RKDF was established as a tool to support economic integration and sustainable development in Kyrgyzstan. Today, the fund remains the largest investor in the country’s financial market, having invested over $760 million in the economy. Over the past decade, the fund has financed more than 3,500 projects across all regions of the Republic, creating tens of thousands of jobs and making a significant contribution to the country’s GDP.

RKDF is the largest international investor

The Russian-Kyrgyz Development Fund holds a leading position among international financial organizations operating in Kyrgyzstan. From 2015 to 2024, the fund invested $638.2 million, accounting for 66.2% of the total investments by international financial organizations attracted to the country. These funds have served as the foundation for implementing numerous large-scale projects, including the construction of a cement plant in Chui province, hydropower plants in Issyk-Kul province and several industrial facilities.

Alongside the RKDF, significant contributions have been made by the Eurasian Development Bank (EDB), the European Bank for Reconstruction and Development (EBRD), ADB, IFC and other international financial institutions. However, the RKDF remains the primary driver of economic progress and the most important source of investments in Kyrgyzstan’s key economic sectors.

In his speech, Artem Novikov, Chairman of the RKDF Board, highlighted that the fund has identified several priority areas for development until 2030 to adapt to global economic changes. One of the key focuses will be supporting the “green” economy and renewable energy. Over $50 million is planned to be invested in projects for the construction of hydropower and solar power plants, which will help reduce carbon dioxide emissions by 2 million tons. This reduction will account for approximately 13% of Kyrgyzstan’s commitments under the Paris Agreement.

Special attention will be given to social development and skills support. The RKDF plans to allocate at least 1% of its annual profits to social initiatives, contributing not only to economic growth, but also to improving the quality of life for citizens.

The development of logistics infrastructure also remains an important priority. By focusing on issues related to the collection, storage and certification of products, the fund aims to significantly increase the country’s export potential. Exports are expected to grow by $300 million by 2027 and reach $500 million by 2030.

In addition, the RKDF plans to modernize Kyrgyzstan’s stock market in collaboration with the Eurasian Development Bank. These efforts will help attract domestic investments of up to $400 million and establish a class of domestic investors, which will create a foundation for sustainable economic growth.

Attracting new investments will be an important part of the fund’s strategy. The volume of investments is planned to be doubled, reaching $1 billion. Each dollar of attracted investment is projected to increase the country’s GDP by at least three dollars, contributing to the accelerated economic development of Kyrgyzstan.

Chairman of the Cabinet of Ministers Akylbek Japarov, speaking at the event, highlighted the country’s achievements over the past three years. According to him, Kyrgyzstan aims to reach a GDP level of $30 billion by 2030.

“To achieve this ambitious goal, Kyrgyzstan plans to attract significant investments and carry out large-scale modernization of the economy. An important role in this process will be played by the RKDF, which will focus on financing projects in priority sectors such as: renewable energy, production clusters, development of trade and logistics infrastructure and innovations in agriculture,” he said.“Kyrgyzstan plans to attract significant investments and implement large-scale modernization of the economy to achieve this ambitious goal. The RKDF will play an important role in this process, focusing on financing projects in priority sectors such as: renewable energy, manufacturing clusters, the development of trade and logistics infrastructure and innovations in agriculture," — he said.