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Friday, January 28th, 2022

Russian-Kyrgyz Development Fund to finance investment projects to amount of USD 2.5M

by September 28, 2021 Market

The Board of the Russian-Kyrgyz Development Fund (RKDF) unanimously approved the next investment projects.

According to the fund, among them is a project of regional importance on the cluster development of the agro-industrial complex – the Tok Ordo farm in Osh Oblast.

RKDF funds in the amount of USD 500 thousand will be used for expansion and reconstruction of hothouse farm. The implementation of the project will have a complex impact on the economy of the Kyrgyz Republic, as it contributes to partial import substitution of environmentally friendly vegetables and will create 25 new jobs.

In addition, the Board of the Fund approved the next stage of financing of the Metal Trade Service LLC plant for the production of pipes and profiles made of metal. The financing amounted to USD 2 million. At the moment it is the only fully automated production of this kind in Kyrgyzstan. Creation of the plant allowed to replace imports and increase exports of metal products, to increase the volume of tax payments to the state budget and provide 70 new permanent jobs.

A total of seven projects were considered during the 38th Management Board Meeting, four of which were supported at the concept level, and financing for two projects was begun.

Source: Kyrgyz National News Agency