The Russian-Kyrgyz Development Fund (RKDF) and the Azerbaijani-Kyrgyz Development Fund (AKDF) signed an agreement on joint financing of investment projects in Kyrgyzstan.

The purpose of this partnership is to promote the modernisation and development of the republic's economy through the implementation of projects of economic and strategic importance for the country.

Investments will be made in the form of co-financing in the form of lending and equity participation, as well as the use of other financial instruments in relations with business entities registered and operating in the Kyrgyz Republic. In accordance with the terms of the agreement, the expected amount of financing for each project will be at least $1 million from each fund.

‘When implementing joint projects, the Russian-Kyrgyz Development Fund and the Azerbaijan-Kyrgyz Development Fund will proceed, first of all, from the principles of economic development of the Kyrgyz Republic. The goals of the funds coincide. I am confident that such financial synergy will bring worthy results,’ said Artem Novikov, Chairman of the Board of the Russian-Kyrgyz Development Fund.

Almaz Mambetov, Co-Chairman of the Board of the ACFM, noted that undoubtedly, the RKDF has great experience and competences in the field of business financing already during 10 years of its existence in the Kyrgyz Republic. 

‘I am convinced that joint support of business entities by our Foundations will make a certain contribution to the progressive development of our country's economy,’ he said.