Bishkek, Nov. 5, 2021 / Kabar /. The ceremonial opening of the Kyrgyz-Hungarian Development Fund took place in Bishkek today. The official launch of the fund's activities took place with the participation of Minister of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiev and Minister of Foreign Economic Relations and Foreign Affairs of Hungary Peter Szijjarto. Also during the meeting, the composition of the board of the council of the fund was approved.
In April of this year, within the framework of Peter Szijjarto's official visit to Kyrgyzstan, an agreement was reached between the governments to create a joint development fund in order to implement important investment projects. According to the idea, the fund should become an effective platform for attracting investments and implementing projects for the development of small and medium-sized businesses in Kyrgyzstan. It should be noted that it is important that this fund is created in the post-pandemic period, which in turn is one of the important levers for the development of the Kyrgyz economy.
Minister of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiev said that the authorized capital of the fund is USD 16 million and is expected to increase the capital to USD$ 50 million in the future.
The board of directors of the fund includes five people: three from Kyrgyzstan and two from Hungary. The headquarters of the fund will be located in Bishkek.
Peter Siyjarto noted that Kyrgyzstan and Hungary are linked by centuries-old trade, economic, social and cultural relations, which are of a trusting nature and are systematically developing in the spirit of equality and respect for mutual interests.
In turn, the deputy chairman of the board of the fund, Robert Grylev, noted that the fund will focus on the development of small and medium-sized businesses in Kyrgyzstan.
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