Kyrgyzstan will be able to receive loans from the Economic Development Cooperation Fund (EDCF). The Parliament approved in the second reading a framework agreement with the government of South Korea on loans from 2025 to 2029.
The background statement to the bill says that the EDCF is a political fund created in 1987 to support the industrialization and economic development of developing countries and to promote economic exchange between the Republic of Korea and these countries.
In accordance with the framework agreement, Kyrgyzstan can receive funds in the period until 2029 for the implementation of socio-economic development projects in various sectors of the economy, which will be jointly selected from applications submitted by ministries and departments, but in the amount of not more than $500 million in Korean won.
