BISHKEK, Kyrgyzstan, May 21. The Eurasian Development Bank (EDB) intends to provide a grant to the Kyrgyz Stock Exchange (KSE) for infrastructure modernization, Trend reports.
According to the stock exchange, a quadrilateral agreement of intent to implement the KSE technical assistance project was signed between the KSE, the Financial Credit Fund under the Ministry of Finance of Kyrgyzstan, the EDB, and the Russian-Kyrgyz Development Fund.
This grant will enable the KSE to create new trading sections for currency pairs and derivatives, as well as expand its infrastructure, leading to a significant increase in trading volume, the number of market participants, and accessibility for international investors. However, the grant amount has not been disclosed.
It was also noted that the Ministry of Finance of Kyrgyzstan and the KSE plan to conduct large-scale joint events and implement the country's most important development projects.
The EDB is a multilateral development bank with a charter capital of $7 billion, aimed at promoting economic growth among its member states, expanding trade and economic ties between them, and fostering integration processes in the Eurasian region through investment activities. Established in 2006, the bank's headquarters are located in Kazakhstan's Almaty.