At the 4th meeting of the Board of the Azerbaijan-Kyrgyz Development Fund, the organization's newly revised investment policy and investment reports for 2 projects were approved, and other issues were discussed.
The 4th meeting of the Board of the Azerbaijan-Kyrgyz Development Fund was held under the chairmanship of Elnur Aliyev, Chairman of the Board and First Deputy Minister of Economy of Azerbaijan. The event was attended by representatives of the relevant state institutions of Azerbaijan and Kyrgyzstan.
At the meeting, it was emphasized that cooperation with the Kyrgyz Republic is expanding in several areas, particularly in economic-trade, investment, and transportation. The tasks set by the leaders of both states for strengthening economic cooperation are being successfully implemented. In this regard, special importance is attached to the development of partnership within the framework of the Azerbaijan-Kyrgyz Development Fund, which was established to support economic cooperation between the two countries. The Fund's activities cover the financing of priority projects of entrepreneurial entities registered in Kyrgyzstan.
It was noted that, based on the Additional Agreement signed in April last year on "Amendments to the Agreement between the Government of the Republic of Azerbaijan and the Cabinet of Ministers of the Kyrgyz Republic," the charter capital of the Azerbaijan-Kyrgyz Development Fund is planned to be increased to up to 100 million dollars. In this regard, the necessary steps are being taken to accelerate the process of increasing the Fund's charter capital. Currently, the allocation of investments for projects submitted within the framework of financing through the Fund is under consideration.
At the meeting, the Fund's newly revised investment policy, as well as the 2025 budget, organizational structure, staffing schedule, and investment reports for two projects in the construction and energy sectors were approved, and other issues were discussed.
