23.04.24
“Today, an amendment to the agreement was signed to increase the authorized capital of the Azerbaijan-Kyrgyz Development Fund by 4 times - from 25 million to 100 million US dollars,” said President of the Republic of Azerbaijan Ilham Aliyev in his statement to the media, commenting on the results of negotiations with President of Kyrgyzstan Sadyr Zhaparov in the city of Baku.
Aliyev noted that the main reason for the increase in the authorized capital is the receipt of many applications: more than 40 were reported for the implementation of investment projects in Kyrgyzstan.
“Therefore, I think that 100 million US dollars is not the limit. We gave joint instructions to the relevant government structures to quickly launch a mechanism for the implementation of joint investment fund projects,” Ilham Aliyev said.
The Fund was established between the two countries in 2023 in order to promote economic cooperation between the Kyrgyz Republic and the Republic of Azerbaijan, modernization and development of industry, effective use and expansion of economic bilateral cooperation. The Fund finances self-sustaining projects in priority sectors of the economy of the Kyrgyz Republic by providing financing in such areas as agriculture, clothing and textile industries, manufacturing, mining and metallurgical industries, transport, housing construction, trade, energy complex, infrastructure development, tourism and other sectors.
