USD 84.80
EUR 98.41
RUB 1.19

Vladimir Putin tells about economic support of Kyrgyzstan

Russian President Vladimir Putin, after talks with Almazbek Atambayev, told about the economic support of Kyrgyzstan.

His statement to the press he began by saying that the meetings of the two presidents are regular. In February, they held meaningful talks in Bishkek, met in the capital of Kyrgyzstan at a meeting of the Supreme Eurasian Economic Council, and more recently at a summit of the Shanghai Cooperation Organization in Astana.

«Almazbek Sharshenovich often comes to Russia, his current visit has a special status — the status of a state visit. It is significant that it takes place in the anniversary year for Russian-Kyrgyz relations — 25 years ago, diplomatic relations were established between Russia and Kyrgyzstan and a Treaty of Friendship, Cooperation and Mutual Assistance was signed," the Russian leader recalled.

He stressed that the current talks were traditionally held in a friendly and constructive atmosphere. The parties discussed all the most important issues on the bilateral agenda, touched upon topical regional and international issues. Together with members of governments, representatives of business circles of the two countries, the state of Russian-Kyrgyz relations in the trade and economic sphere was examined in detail. The parties noted with satisfaction that, generally, they have managed to overcome the recession in mutual trade caused by the unstable conjuncture in world markets.

In the first quarter of 2017, the volume of bilateral trade increased by 23 percent. Russian exports grew by 24 percent, imports from Kyrgyzstan by 15 percent. More than 2.5 times increased the supply of food and agricultural products.

"Russia continues to help the economy of Kyrgyzstan. And our financial assistance is provided mainly on a non-reimbursable basis. The Russian-Kyrgyz Development Fund is successfully working with $ 500 million invested in its authorized capital. Funds directly financed 28 major projects in Kyrgyzstan. About 700 different projects have been credited through Kyrgyz commercial banks as part of a program to promote small and medium-sized businesses for more than $ 230 million," Vladimir Putin said.

To support the state budget of Kyrgyzstan, the Russian side annually provides $ 30 million. Starting from 2012, the total amount of such grants comprised $ 255 million.

Russia has allocated other $ 200 million for the adaptation of the Kyrgyz economy to the requirements of the Eurasian Economic Union.

Significant investments are coming to Kyrgyzstan through the Russian commercial structures. For example, the volume of investments by Gazprom in the modernization of the Kyrgyz gas distribution system in the coming years will be 100 billion rubles. As a result, the level of gasification of the country should increase from the current 22 to 60 percent.

A significant contribution to the economic development of Kyrgyzstan is made by the remittances of its citizens working in Russia. Last year, the volume of such transfers increased by almost 20 percent, amounted to almost $ 2 billion, or one third of the total Kyrgyz GDP.

At the talks, attention was paid to further development of contacts between the regions of our countries. Now about 70 regions of the Russian Federation cooperate with Kyrgyzstan. Both sides expect that the visit of the President of Kyrgyzstan within the framework of the current visit to Bashkortostan and Tatarstan will contribute to the revitalization of this direction.