BISHKEK, Kyrgyzstan, December 4. The Russian-Kyrgyz Development Fund (RKDF) plans to finance environmental projects in Kyrgyzstan worth over $50 million by 2030, Artem Novikov, the Chairman of the Fund's Management Board, said during the 10th-anniversary celebration of the RKDF, Trend reports.
The initiative aims to reduce CO2 emissions by 2 million tons, accounting for 13 percent of Kyrgyzstan's commitments under the Paris Agreement.
Novikov noted that currently, the Fund is financing 14 projects focused on the construction of green energy facilities, with an investment of $176 million. These projects are expected to cut greenhouse gas emissions by 1.65 million tons annually and help achieve the country’s energy independence.
The RKDF also plans to focus on the development of logistics infrastructure to boost the country's export potential. Additionally, the RKDF plans to modernize the Kyrgyz Stock Exchange to attract both domestic and foreign investments.
Another priority is the introduction of innovations, support for startups, and venture financing aimed at accelerating economic growth.
The Fund intends to work with the banking sector to create platforms based on artificial intelligence and big data. These platforms will help automate customer interactions and speed up the implementation of business ideas.
Novikov asserts that investing in the digital economy can yield up to $20 in GDP growth, and the Fund strives to fully utilize this potential.
"Considering the economic effectiveness of investments in high-tech industries, the Fund will emphasize the development of research and development (R&D) and engineering projects, allocating at least 1 percent of its profits annually to startups and venture financing. By 2030, we aim to implement dozens of such projects," said Novikov.
Established on November 24, 2014, the Russian-Kyrgyz Development Fund has financed projects with an investment of more than $760 million over the past decade. The goal of the RKDF is to promote economic cooperation between Kyrgyzstan and Russia, modernize and develop the Kyrgyz economy, and ensure the effective use of opportunities arising from the parties' participation in Eurasian economic integration.