The 4th meeting of the Board of the Azerbaijan-Kyrgyz Development Fund (AKDF) was held in Baku, January 30.

Deputy Minister of Economy and Commerce Sanjar Bolotov, as well as representatives of relevant government agencies of Kyrgyzstan and Azerbaijan attended the meeting as Deputy Chairman of the Board of Directors from the Kyrgyz side.

During the meeting it was noted that trade and economic cooperation between Kyrgyzstan and Azerbaijan is entering a new stage and continues to expand in all directions. It was also emphasized that high indicators and tasks set by the heads of two states are an important aspect of this interaction.

Following the results of the meeting, the Investment Policy of the Fund and other documents necessary for its functioning were approved, as well as financing of two projects was approved:

• construction of a small hydroelectric power plant with a capacity of 9 MW;
• construction of a modern garment factory for 300 jobs.

In addition, the concept of financing the construction of a multifunctional center was approved.

According to the results of the Council meeting, instructions were also given to continue active work on forming a portfolio of promising projects corresponding to the priority directions of the Fund.

It should be reminded that the Azerbaijan-Kyrgyz Development Fund was established with a capital of $100 million.