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Bishkek, Chui region get largest loans in Russian-Kyrgyz Development Fund

Bishkek and Chui region account for about 70 percent of the loans, issued by the Russian-Kyrgyz Development Fund. The chairman of the fund’s board Erkin Asrandiyev told today.

According to him, following the results of 2017, the Russian-Kyrgyz Development Fund approved 823 projects for $ 311 million. At least $ 145.5 million of the sum was direct financing of the fund, and $ 116 million — loans to small and medium-sized businesses through commercial banks. In addition, other $ 50 million were invested by the fund in the state treasury bonds for the development of the State Mortgage Company.

«More than half of the funds (almost $ 133 million) is the financing of the agricultural sector and the processing sector. Tourism, infrastructure development and information technologies take a significant part. In the context of the regions, funding covered all areas. In total, the fund approved 823 projects. Almost half of them are from regions. But if we look at the amount of loans, 70 percent of the funds were issued to Bishkek and Chui region. This means that large projects are concentrated there,» Erkin Asrandiyev stressed.