BAKU, Azerbaijan, October 10. The Committee on Budget, Economic and Fiscal Policy of the Jogorku Kenesh (Parliament of Kyrgyzstan) today approved a project on the establishment of the Kyrgyz-Azerbaijani Development Fund, Trend reports via Kyrgyz parliament.
As part of the agreement, it is proposed to create a joint investment fund between Kyrgyzstan and Azerbaijan with an authorized capital of $25 million.
"The authorized capital of $25 million is contributed by the Azerbaijani side, in the future it is planned to increase it up to $50 million. The headquarters will be located in Bishkek, the capital of Kyrgyzstan," the statement says.
Notably, the establishment of the fund will serve as an impetus for the activation and expansion of investment cooperation between Kyrgyzstan and Azerbaijan.