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EDB to issue loan to development fund for investment projects

The Eurasian Development Bank will provide a credit line to the Russian-Kyrgyz Development Fund for financing of investment projects. The press service of EDB reported.

The credit line of $ 50 million is renewable and is provided for five years. The Chairmen of the Board of EDB and the Russian-Kyrgyz Development Fund Andrey Belyaninov and Erkin Asrandiyev signed the corresponding agreement the day before.

The funds are intended to finance investment projects implemented by the fund in Kyrgyzstan and targeted RKDF programs through commercial banks of the Kyrgyz Republic.

"The interaction of the two international development institutions will contribute to the development and modernization of the economy of Kyrgyzstan, as well as create prerequisites for deepening the economic integration of the EDB member states," the EDB said.