Bishkek, Oct 10, 2022 / Kabar /. The Committee on Budget, Economic and Fiscal Policy of the Jogorku Kenesh today considered and approved a draft agreement between the Cabinet of Ministers of Kyrgyzstan and the government of Azerbaijan on the establishment of the Kyrgyz-Azerbaijan Development Fund.
Information on this issue was provided by Deputy Minister of Economy and Commerce Kanat Abdrakhmanov, the press service of the Jogorku Kenesh reported.
Based on this draft Agreement, it is proposed to create a joint bilateral investment fund between Kyrgyzstan and Azerbaijan with an authorized capital of USD 25 million. The authorized capital of USD 25 million is contributed by the Azerbaijani side. It is planned to increase the authorized capital to USD 50 million. The headquarters will be located in Bishkek.
It was noted that the creation of the fund will serve as an impetus for the activation and expansion of cooperation in the investment sphere.
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