BAKU, Azerbaijan, November 24. Kyrgyzstan has high hopes for the activity of a joint fund with Azerbaijan, Vice Minister of Economy and Commerce of Kyrgyzstan Kanat Abdrakhmanov told TurkicWorld.
“In August, Azerbaijan and Kyrgyzstan had another meeting within the intergovernmental commission. The protocol of this meeting included key directions and a consensus on creating a mechanism for financing joint projects by establishing a Kyrgyz-Azerbaijani fund with the authorized capital of $25 million,” he said.
According to the vice minister, the headquarters will be located in Bishkek and it is expected that the next meeting of the fund’s board members will be held in the near future to discuss further joint financing of projects that meet the requirements of economic feasibility, viability, repayment and urgency.
“We have already defined the main internal regulatory documents and determined on which areas the Kyrgyz-Azerbaijani fund will emphasize,” he said.
According to the State Customs Committee of Azerbaijan, trade turnover between Azerbaijan and Kyrgyzstan from January through September 2023 amounted to $35.3 million, which is 5.9 times more compared to the same period of 2022 (over $6 million).
