Bishkek, Dec.13, 2017 / Kabar/. Granting soft loans totaling $ 258 million (18 billion soms at the current rate) was approved by the Russian-Kyrgyz Development Fund (RKDF) as of Dec 1, Akchabar.kg/news reported. Financing is allocated for 781 business projects. Out of these, more than half (57%) have been fully realized so far.
Most of the funds (59%) are allocated for production. In particular, these are projects in agro-industrial complex (26%), processing sector (10%), construction (8%), textile industry, energy, metallurgy and machine building.
RKDF direclty issues loans in dollars only for major projects for more than $ 1 million. The interest rate for loans is 4% per annum (purchase of equipment and technology) and 7% per annum (construction work and refinancing of previously taken loans).
Through partner banks, loans in soms and dollars are issued for projects worth less than $ 1 million. Interest rates in this case are 5% per annum for loans in dollars and 10% per annum if the loan is provided in soms.
The Russian-Kyrgyz Development Fund is an international organization that attracts funds and finances projects for the long-term development of the Kyrgyz economy in the context of integration into the Eurasian Economic Union (EEU). The authorized capital of the fund is $ 500 million.
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