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Russian-Kyrgyz Development Fund resumes financing of projects

The Russian-Kyrgyz Development Fund resumed project financing from July 1. The press service of the RKDF reports.

The decision was made following the meeting of the Chairman of the Board of the RKDF Artem Novikov with the Chairman of the Fund’s Council, Deputy Minister of Finance of Russia Timur Maksimov in Moscow. It is a consequence of the agreements reached during the negotiations between the Presidents of Kyrgyzstan Sadyr Japarov and Russia Vladimir Putin.

«Artem Novikov told the Chairman of the Fund’s Council about the current work on modernization of the RKDF, strengthening the principles of corporate governance, preparing new projects and programs to support entrepreneurs in Kyrgyzstan through the tools of the RKDF,» the message says.

Timur Maksimov noted stabilization of the political situation in Kyrgyzstan and significant progress in implementation of agreements to improve the activities of the RKDF in recent months.

Given the stabilization of the political situation, I consider it possible to resume the approval and granting of new loans by the RKDF under the direct financing program.

Timur Maksimov

In addition, during the meeting, the parties agreed to step up work to modernize the activities of the RKDF, hold the next meeting of the Fund’s Council, as well as expand the range of financial products provided by the Fund for development of the Kyrgyzstan’s economy, ensuring employment and strengthening the country’s position in international markets.

The RKDF suspended direct financing of projects in Kyrgyzstan in October 2020 due to political instability in the republic.