BAKU, Azerbaijan, October 10. Minister of Finance of the Kyrgyzstan Ruslan Suinaliev met with Head of the Islamic Development Bank’s (IsDB) Regional Hub in Almaty Hammad Zafar Hundal, on October 8, 2026, to discuss the implementation of the bank’s ongoing projects in the country.
This was reported by the press service of the Ministry of Finance of Kyrgyzstan.
"During the meeting, the sides discussed the implementation of ongoing IsDB projects in the Kyrgyz Republic, financing issues related to a joint project with the State Mortgage Company, as well as further expansion and strengthening of cooperation between the Kyrgyz Republic and the Islamic Development Bank," the statement said.
Particular attention was paid to the currency in which the project with the State Mortgage Company would be financed.
The Kyrgyz side emphasized the importance of retaining the US dollar as the project’s financing currency and resolving this issue as soon as possible to ensure the timely commencement of its practical implementation.
The sides also discussed the possibility of developing and concluding a Framework Agreement between the Kyrgyz Republic and the Islamic Development Bank.
Furthermore, they noted that this mechanism would help improve financing predictability, identify priority areas for cooperation and accelerate the implementation of investment projects.
"Particular attention was paid to preparing a new Cooperation Strategy between the Kyrgyz Republic and the Islamic Development Bank, as the current strategy expires in 2027. In this regard, the sides noted the need to begin work on the new strategic document in advance, taking into account the Kyrgyz Republic’s development priorities through 2030, including industrialization, transport and logistics infrastructure, agriculture, tourism and green energy," the ministry’s press service noted.
Minister Ruslan Suinaliev noted that Kyrgyzstan highly values the Islamic Development Bank’s long-standing support and is interested in moving towards a more systematic and long-term partnership.
Following the meeting, the sides confirmed their readiness to further strengthen cooperation, accelerate the implementation of ongoing projects and advance new initiatives aimed at the socio-economic development of the Kyrgyz Republic.
At the end of the meeting, the Kyrgyz finance minister invited representatives of the Islamic Development Bank to participate in the next meeting of the Arab Coordination Group, which is scheduled to take place in Kyrgyzstan in March 2027.
