Bishkek, Feb.21, 2018 / Kabar /.The Eurasian Development Bank (EDB) will provide the Russian-Kyrgyz Development Fund (RKDF) with a $ 50 million revolving credit facility for a period of 5 years. The corresponding agreement was signed by Chairmen of the EDB Board Andrey Belyaninov and Head of RKDF Erkin Asrandiyev.
The RKDF told that the funds are intended to finance investment projects implemented by the RKDF in Kyrgyzstan, as well as to fund the RKDF’s targeted programs through commercial banks of the Kyrgyz Republic.
The interaction of the two International Development Institutions will contribute to the development and modernization of the economy of Kyrgyzstan, as well as to create prerequisites for deepening the economic integration of EDB member states.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of participating countries, to contribute their sustainable economic growth and the expansion of mutual trade and economic relations. The authorized capital of the EDB is $ 7 bln. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
The Russian-Kyrgyz Development Fund (RKDF) is established and operates in accordance with the Agreement between the Government of the Kyrgyz Republic and the Russian Federation. The Fund is an international organization and established to promote economic cooperation between the Kyrgyz Republic and the Russian Federation. RKDF’s purpose is also to modernize and develop the economy of the Kyrgyz Republic, the effective use of opportunities due to the participation of the sides in the Eurasian Economic Integration (EEI).