The National Bank of Kyrgyzstan plans to allocate from $5 to 10 million for the development and implementation of a programme for the digital som, Deputy Chairman of the National Bank Mels Attokurov said at a plenary session of the Jogorku Kenesh on 23 January.

Funds for the project will come from the National Bank's budget, not from the state budget, he said.

MP Jyldyz Sadyrbaeva asked why the National Bank's statement said that no additional funds would be needed to implement the digital som. The deputy head explained that it was said that the issue of digital currency would not entail the costs of production and circulation of paper money.

‘After the introduction of the digital som, the cost of issuing banknotes will be reduced,’ Attokurov added.