To date, almost 3 billion soms have been accumulated in regional development funds. The Minister of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiev said at the board meeting of the ministry.
He noted that the Uzbek-Kyrgyz Development Fund with an authorized capital of $200 million has been created in the country. By the end of 2022, it received projects worth more than $123 million from various sectors of the economy. The Hungarian-Kyrgyz Development Fund with an authorized capital of $50 million began financing 14 projects for $24 million.
An agreement was signed on the establishment of a Kyrgyz-Azerbaijani Development Fund with an authorized capital of $25 million. Organizational work is underway to fully launch the fund. An agreement was signed with the United Arab Emirates on the establishment of a joint holding company with an authorized fund of $100 million. In the future, the authorized capital of the specified holding is expected to increase 12 times and will amount to $1.2 billion.
«But local funds very passively participate in the development of regions, strengthening the financial situation at the local level and implementation of large investment projects. In recent years, the working conditions have been changed at the suggestion of a group of local leaders, aimed at encouraging the activities of the funds,» Daniyar Amangeldiev said.
