By Trend

The Joint Azerbaijani-Kyrgyz Development Fund with a budget of $25 million will be implementing investments in priority projects for the founders in Kyrgyzstan by providing loans and credits, the Ministry of Economy and Commerce of Kyrgyzstan told Trend.

The ministry noted that the founders will participate in capital and use of other tools in relation to business entities registered and operating on the territory of Kyrgyzstan.

"In particular, they will participate in the following sectors: water supply sector; healthcare sector; automotive industry; science, research and technology; gas industrial complex; chemical and petrochemical industry; clothing and textile industry; manufacturing industry; mining and metallurgical industry; transport; housing construction; trade; entrepreneurship development; energy complex; infrastructure development; information technology; development of tourism," the ministry stated.

A signing ceremony of Azerbaijani-Kyrgyz documents took place after the meeting of the First Interstate Council of Azerbaijan and Kyrgyzstan in an expanded format with the participation of President of Azerbaijan Ilham Aliyev and President of Kyrgyzstan Sadyr Japarov.

In particular, an agreement was reached on the establishment of the Joint Azerbaijani-Kyrgyz Development Fund. 'Agreement on the establishment of the Joint Azerbaijani-Kyrgyz Development Fund' was signed by Deputy Prime Minister of Azerbaijan Ali Ahmadov and Chairman of the Cabinet of Minister of Kyrgyzstan Bakit Torobayev.