RUSSIAN-KYRGYZ DEVELOPMENT FUND ALLOCATED 75 MILLION KGS TO 7 ENTERPRISES OF THE KYRGYZSTAN

  1. Main
  2. Company
  3. Company news
  4. RUSSIAN-KYRGYZ DEVELOPMENT FUND ALLOCATED 75 MILLION KGS TO 7 ENTERPRISES OF THE KYRGYZSTAN

About the company

The Russian-Kyrgyz Development Fund, Aiyl Bank and RSK Bank allocated 75 million soms under the targeted financing program for seven Kyrgyz projects. Three enterprises operate in Bishkek, the other four operate in Osh, Toktogul and Chui region. This was reported by the fund's press secretary Kuban Sagynbekov.

As indicated, all funds received through the financing of small and medium-sized businesses (SMEs) from the RKDF will be used to modernize enterprises, that is, purchase equipment, build and improve production facilities.

At the moment, 116 applications for a total of 1.8 billion soms have been received by two state banks. Of these, 82 applications are from the agricultural sector, 27 are from manufacturing enterprises, 1 is from representatives of the mining industry, 3 are in the energy sector and 3 are from the service sector.

The Russian-Kyrgyz Development Fund signed an agreement with Aiyl Bank and RSK on cooperation in order to launch a targeted financing program. Within its framework, entrepreneurs can apply for preferential loans at 12% per annum in soms for up to five years.

Reference

The Russian-Kyrgyz Development Fund was established and operates in accordance with the agreement between the government of the Kyrgyz Republic and the Russian Federation "On the development of economic cooperation in the context of Eurasian economic integration" dated May 29, 2014, the agreement between the government of the Kyrgyz Republic and the Russian Federation "On the Russian-Kyrgyz Development Fund" dated November 24, 2014.

The Fund is an international organization - a subject of international law, has international legal capacity and has the right to conclude international treaties within its competence. The fund was established to promote economic cooperation between the Kyrgyz Republic and the Russian Federation, modernization and development of the Kyrgyz economy, and the effective use of opportunities arising from the participation of the parties in Eurasian economic integration.

Source: http://www.vb.kg/325936