Tashkent, Nov. 4, 2021 / Kabar /. By the decree of President Shavkat Mirziyoyev, the Agreement on the establishment of the Uzbek-Kyrgyz Development Fund (UKDF), signed in March this year in Tashkent by the governments of Uzbekistan and Kyrgyzstan, was approved, the Ministry of Justice of the Republic of Uzbekistan reported today.
Members of the Council of the Uzbek-Kyrgyz Development Fund from Uzbekistan are Minister of Investment and Foreign Trade Sardor Umurzakov, First Deputy Minister Laziz Kudratov, and Deputy Minister - Executive Director of the Reconstruction and Development Fund Shukhrat Vafayev.
The share of the government of Uzbekistan in the authorized capital of the UKDF is formed at the expense of the Reconstruction and Development Fund.
UKDF will be an international organization with an authorized capital of USD 50 million, which is contributed by Uzbekistan with the subsequent increase of the authorized capital to USD 200 million. The Fund will finance projects in priority sectors of the Kyrgyz economy by providing loans, participating in capital and using other financial instruments in relations with economic entities of Kyrgyzstan.
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