$25 million transferred to account of Azerbaijan-Kyrgyzstan Development Fund
At least $25 million was transferred to the account of Azerbaijan-Kyrgyzstan Development Fund on February 12. Co-chairman of the fund’s board, Almaz Mambetov, announced at a meeting of the Committee on International Affairs, Defense, Security and Migration of the Parliament of Kyrgyzstan.
Answering questions from deputies, he noted that the international fund will finance projects in the fields of education, healthcare, agriculture and tourism.
«The fund has received projects worth $80 million for consideration. We will study them and select the best,» Almaz Mambetov said.
At the same time, he emphasized that not a single project has been selected for financing yet. But he added that the President Sadyr Japarov is planning a visit to Azerbaijan in April and by this time the fund will prepare 1-2 projects.
The agreement on establishment of the Azerbaijan-Kyrgyzstan Development Fund was signed during the state visit of Azerbaijani President Ilham Aliyev to Kyrgyzstan on October 11-12, 2022.
It was established with the aim of promoting economic cooperation between Kyrgyzstan and Azerbaijan, modernization and development of industry, effective use and expansion of bilateral economic cooperation. The fund’s authorized capital is $25 million. Funding is fully provided by the Azerbaijani side.
