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Deputies adopt amendments to law on National Bank to support Development Fund

The deputies of the Parliament adopted in the third reading the amendments to the law on the National Bank, initiated by the deputies Akylbek Zhaparov and Azamat Arapbaev.

The draft law provides an opportunity for international organizations, established by Kyrgyzstan jointly with other states within the framework of the Eurasian Economic Union, to receive loans from the National Bank in soms. At the same time, the state securities of the Kyrgyz government will secure the loans.

The draft law was adopted to support the Russian-Kyrgyz Development Fund. As of today, an agreement has been signed between the Russian-Kyrgyz Development Fund and the National Bank on providing som loans on security of foreign currency. The fund bought government securities. But at the same time, it does not have the opportunity to receive additional som loans on security of government securities.

The initiators of the bill are sure that thanks to the amendments it will be possible to use even more RKDF funds for concessional lending to the population of Kyrgyzstan.