Uzbek-Kyrgyz Fund Implements $100M in Projects

The Uzbek-Kyrgyz Development Fund has greenlit 37 projects spanning diverse economic sectors, totaling over $100 million, since its inception four years ago. This announcement was made by Board Chairman Aziz Aaliyev at the Kyrgyz-Uzbek Business Forum in Bishkek.

Aaliyev detailed that the approved projects encompass energy, transportation, social services, and garment production. They also include the provision of machinery and components to Kyrgyzstan from Uzbekistan and other nations.

Of the 37 projects, nine have reached full completion, with the involved companies successfully implementing their plans and fully repaying their loans, Aaliyev noted.

Currently, the fund is reviewing 11 additional projects, estimated to be worth around $100 million. The fund's chief reiterated its core mission: to foster collaboration between businesses in both countries, pinpoint advantageous export-import ventures, and bolster trade and economic ties between Uzbekistan and Kyrgyzstan.

Furthermore, Aaliyev unveiled plans to broaden financing avenues by incorporating national currencies, a move already approved that aims to mitigate currency risks for entrepreneurs. The fund also intends to introduce lending frameworks based on Islamic finance principles.