Baku and Bishkek signed an agreement on the creation of the Azerbaijani-Kyrgyz Development Fund.
The agreement on the creation of the Fund is signed between the Cabinet of Ministers of Azerbaijan and Kyrgyzstan following the results of negotiations at the highest level on Tuesday in Bishkek.
The Fund is established in order to promote economic cooperation between Kyrgyzstan and Azerbaijan, modernization and development of the economy, efficient use of opportunities.
“The authorized capital of a joint bilateral investment fund will be $ 25 million, the headquarters will be in the city of Bishkek,” the information says on the website of the President of Kyrgyzstan.
The creation of the Fund will serve as an impetus to activate and expand cooperation in the investment sphere.
The Fund will invest in priority projects for founders in Kyrgyzstan by providing loans and loans, participation in capital and use of other financial instruments in relations with business entities registered and leading their activities in the country.
The priority areas for investment are the agricultural sector, water supply, healthcare, automotive industry, science, research and technology, gas industry, sewing and textile industry, mining and metallurgical industries, etc.