BISHKEK, Kyrgyzstan, September 13. The Eurasian Development Bank (EDB) and the Russian-Kyrgyz Development Fund (RKDF) have signed an agreement to co-finance investment projects in Kyrgyzstan, RKDF told Trend.
At least $20 million will be funded. This agreement provides a framework for cooperative project financing on favorable terms for both parties and contains risk-sharing mechanisms to lessen the institutions' financial burden.
Additionally, the RKDF has entered into a cooperation agreement with the Kyrgyz State Insurance Company. This partnership is designed to expand the range of insurance services available to the Fund's clients. It is expected to enhance financial protection and confidence in the projects supported by the Fund.
“We hope this practice will become widespread, and that in the future, the Russian-Kyrgyz Development Fund will be able to sign more agreements using similar mechanisms. Cooperation with the State Insurance Company will benefit both the Fund and the company, and we are confident that this fruitful partnership will significantly expand the activities of both institutions,” said Bakyt Kurmanbekov, a member of the RKDF board.
The deals were inked at the VI Kyrgyz-Russian Economic Forum, which is in full swing in Kyrgyzstan. Put together in part by the RKDF, the event has drawn a crowd of over 600 participants.