Governments of Kyrgyzstan and Uzbekistan signed an agreement on the Uzbek-Kyrgyz Development Fund.
As the press service of the Cabinet of Ministers notes, the document was signed proceeding from mutual interest in deepening and expanding trade, investment and financial relations between economic entities of the two sides.
The fund was established to promote economic cooperation between the Kyrgyz Republic and the Republic of Uzbekistan, modernization and development of the economy, and effective use of opportunities.
The tasks, functions, structure and procedure for functioning of the fund, as well as the competence and powers of its governing bodies, are determined by the charter.
The headquarters of the Uzbek-Kyrgyz Development Fund is located in Bishkek; it is managed by the Council and Board.
The Uzbek-Kyrgyz Development Fund finances self-sustaining projects in priority sectors of the Kyrgyz economy by providing loans, participating in capital and using other financial instruments in relations with business entities registered and operating in the country, including in the following areas:
- Agro-industrial complex;
- Garment and textile industry;
- Manufacturing industry;
- Mining and metallurgical industry;
- Transport;
- Housing construction;
- Trade;
- Development of entrepreneurship;
- Energy sector;
- Infrastructure development;
- Development of tourism.
The fund interacts with international organizations, corporations and development institutions in order to implement projects in the territory of the Kyrgyz Republic, and also provides technical assistance for projects supported by the Uzbek-Kyrgyz Development Fund.
The authorized capital is $ 50 million.
