Fund for preparation of sustainable development projects with a capital of $ 400,000 has been established under the Ministry of Economy of Kyrgyzstan. The Information Support Department of the Government’s Executive Office reported.

The fund was established to create new tools for preparation of business projects and assistance to entrepreneurs in obtaining funding. The project is supported by UNDP.

«The Projects Preparation Fund will determine potential business projects and provide a range of services to assist in preparing high-quality business and investment projects to receive funding from the Russian-Kyrgyz Development Fund and other international financial institutions. In December 2018, a preliminary discussion of the applications received was held, and seven business projects from Osh, Issyk-Kul, Naryn and Chui regions were selected. The project is planned to be implemented in such sectors as agriculture and processing, fish farming, development of small hydropower plants. Projects were approved for the development of a feasibility study,» statement says.

In addition, to simplify and automate the registration procedures for law firms, the possibility of online registration of legal entities on the website of the Ministry of Justice was launched in a test mode from November 15 to December 31 last year.

«At the same time, an online platform for interaction with business has been launched. For operational interaction with businesses on problematic issues and solving entrepreneurs’ problems, an online platform, chat and a mobile application were launched on the website of the Ministry of Economy,» the Cabinet stressed.