Korea will provide Kyrgyzstan with a $500 million loan for social and economic projects. Deputy Finance Minister of Kyrgyzstan Altynbek Kudaiberdiev announced at a meeting of the Committee on International Affairs, Defense, Security and Migration of the Parliament.
He presented to the deputies a draft ratification of the framework agreement between the Cabinet of Ministers of the Kyrgyz Republic and the Government of the Republic of Korea on loans from the Economic Development Cooperation Fund (EDCF) for the period from 2025 to 2029.
The purpose of signing the framework agreement is to provide financing to Kyrgyzstan for investment projects in the country’s strategic and socio-economic sectors.
The Deputy Finance Minister noted that the EDCF will provide financing for the implementation of social and economic development projects in various sectors of the economy, which will be jointly selected from among the applications submitted by ministries and departments for an amount not exceeding the equivalent of $500 million in Korean won.
Altynbek Kudaiberdiev specified that funds from the specified amount will be allocated to the State Mortgage Company, Kyrgyz State Medical Academy, the Ministry of Health and the Ministry of Emergency Situations.
