The first meeting of the Council of the Azerbaijan-Kyrgyz Development Fund was held in Cholpon-Ata city. The Ministry of Economy and Commerce reports.
Issues on the implementation of organizational measures for the practical launch of the Fund were considered, including the appointment of a Deputy Chairman, choosing of office space, structure of the Fund, budget financing, strategy development, the rules of the Council, as well as investment, credit, bond policy and risk management policies.
Deputy Minister of Economy and Commerce Kanat Abdrakhmanov has been appointed a member of the Council of the Azerbaijan-Kyrgyz Development Fund.
The Council of the Fund instructed the Board to develop internal regulations necessary for the consideration and financing of business projects. It also instructed to develop a roadmap for the practical launch of the Fund.
The Council is the supreme governing body of the Azerbaijan-Kyrgyz Development Fund. It consists of two representatives from the Kyrgyz side and three from the Azerbaijani side.
The Fund will finance self-sustaining projects in priority sectors of Kyrgyzstan’s economy by providing loans in areas such as agro-industrial complex, garment and textile industry, manufacturing, mining and metallurgical industries, transport, housing construction, trade, energy complex, infrastructure development, tourism, and in other sectors.
