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Thursday, May 19th, 2022

Priority areas of Hungarian-Kyrgyz Development Fund’s business projects

by May 12, 2022 General

The Hungarian-Kyrgyz Development Fund (HKDF) announced priority areas for financing business projects.

During a press conference at Kabar News Agency, member of the Board of the HKDF Alymbek Orozbekov said that at the moment, the Fund is ready to accept applications for business proposals from residents of Kyrgyzstan and Hungary for funding. There are several conditions and priority areas for applications.

Thus, the minimum interest rate will be 1.5%, the maximum – 7.25%. This rate will be based on 4 main criteria, among which – the importance of the project for the local economy, the Hungarian participation in the form of purchasing services, raw materials, the terms of the project – the shorter the term, the greater the payback of the project, the less risk, so the interest rate will be lower, also takes into account the collateral.

Orozbekov also added that the Fund has several priority areas, including alternative energy sources – the construction of small hydropower plants, the development of livestock breeding, beekeeping, fish farms in Kyrgyzstan.

“In addition, there are plans with the Bishkek Mayor’s Office in terms of light provision around the capital, solid waste recycling. That is, we focus on social projects for the development of the city or region. We also decided to focus on the sector of providing essential products – flour, vegetable oil, sugar.

Our range is large, we can consider projects in the tourism industry, IT-technology and so on,” the member of the Hungarian-Kyrgyz Development Fund noted.

Source: Kyrgyz National News Agency