15.10.21
On October 15, a loan agreement of 4.3 million dollars was signed between Russia-Kyrgyzstan Development Fund (RKDF) and Kyrgyz Tekstil Ltd. in Osh, Kyrgyzstan.
The related news was published on the official website of rkdf.org on 15 October.The funds will be used to build a sewing factory in Osh with a total production of more than 7 million units of clothing products per year. The factory will be the first stage of a large-scale textile cluster, which will carry out a full cycle of manufacturing textile products from domestic raw materials. For the project, modern sewing, cutting and other equipment of Japanese and European production will be purchased. Most of the infrastructure of this textile cluster has already been built at the expense of Kyrgyz Textile Ltd's own funds in the amount of more than USD 20 million.
Chairman of the Board of the RKDF Artem Novikov noted the large-scale socio-economic effect that the launch of production will have: “Thanks to this project, more than 900 jobs will be created. This is the first stage in the implementation of a large cluster of textile and clothing production in the southern regions of the Republic, starting with cotton sowing and ending with the export of finished products. The project is being implemented thanks to the regional development policy and the support of the President of the Kyrgyz Republic. "The project will have a complex impact on the economy of Kyrgyzstan, increasing payments to the state budget in the form of tax and social contributions to $ 5 million per year and increasing the flow of export earnings to the country due to the fact that more than 90% of products will be exported to the Russian Federation and countries EAEU.
