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Authorized capital of Azerbaijan-Kyrgyzstan Fund to be increased to $100 million

An additional agreement has been signed to increase the authorized capital of the Azerbaijan-Kyrgyzstan Development Fund to $100 million. The Ministry of Economy and Commerce reported.

Within the state visit of President Sadyr Japarov to Azerbaijan, Minister of Economy and Commerce Daniyar Amangeldiev signed an additional agreement between the Cabinet of Ministers and the Government of Azerbaijan on increasing the authorized capital of the Azerbaijan-Kyrgyzstan Development Fund from $25 million to $100 million.

The additional capitalization of the Fund will allow increasing resources for financing priority business projects in the territory of the Kyrgyz Republic.

The Fund was established between the two countries in 2023 to promote economic cooperation between Kyrgyzstan and Azerbaijan.

It finances self-sustaining projects in priority sectors of the economy in such areas as agro-industrial complex, garment and textile industry, manufacturing, mining and metallurgy, transportation, housing construction, trade, energy complex, infrastructure development, tourism and others.