USD 69.85
EUR 79.72
RUB 1.05

Nature Development Fund created in Kyrgyzstan to improve ecology

Nature Development Fund was established in Kyrgyzstan to improve the environmental situation. The decree was signed by the Prime Minister Sapar Isakov. The Public Relations and Mass Media Department of the government’s executive office reported.

As noted, the fund’s activities are aimed at strengthening environmental protection measures and development of environmental measures, implementation of the Strategic Agreement on Environmental Protection and Development of Investments between the Government, Centerra Gold Inc. and Kumtor Gold Company dated September 11, 2017.

The sources of formation of the fund’s assets are:

  • One-time payment of $ 50 million by Kumtor Gold Company;
  • Annual payments of $ 2.7 million — from 2017 until the end of the operation of Kumtor mine, in accordance with the Strategic Agreement;
  • Funding through voluntary contributions and donations, as well as other revenues not prohibited by Kyrgyz law.

Payments made to Kumtor Gold Company Fund will be used solely for the development of environmental protection and conservation of natural resources of Kyrgyzstan, development of the potential of environmental specialists in the area adjacent to Kumtor mine, support of environmental and natural welfare, and contribution to sustainable development of natural resources of the country.

Recall, on September 11, 2017 the government of Kyrgyzstan and Centerra Gold Inc. signed the Strategic Agreement on Environmental Protection and Investment Promotion.

It creates conditions for improvement of the environmental situation in the implementation of the Kumtor project. Centerra Gold Inc. takes new obligations to expand financing for nature conservation activities, primarily in the water area of Issyk-Kul Lake.