Russian-Kyrgyz Development Fund to Finance Projects Worth $140 Million

The Russian-Kyrgyz Development Fund (RKDF) has said it will finance both new and existing projects in Kyrgyzstan totaling more than $140 million in 2024. The Fund will focus on strategic sectors of the economy: industry, infrastructure development in education and healthcare, logistics, agriculture and agro-processing, strengthening food security, and energy independence. Work in the country’s regions will continue and be expanded, for which the Fund’s Council approved financing of $1 million. “The strategic decision to approve the budget will allow the Fund to continue operating as usual. The RKDF has the necessary amount of resources, and we will continue to accept new applications. We hope that the number and quality of interesting, important and necessary projects for the country will grow, and the Fund, by financing them, will continue to contribute to the development of the economy,” stated Artem Novikov, Chairman of the Board of the RKDF. Member of the RKDF Council, and Minister of the Economy and Commerce of Kyrgyzstan, Daniyar Amangeldiev said that compared to the previous year, the Fund’s overall project portfolio in Kyrgyzstan will be increased by 50%.

Uzbekistan to Expand Investment in Renewable Energy

Uzbekistan to Expand Investment in Renewable Energy The Ministry of Investment, Industry and Trade and the Ministry of Energy of Uzbekistan and the Ministry of Investment of the UAE have signed a Memorandum of Understanding aimed at developing investment cooperation in priority sectors of the economy, including the production, transmission and distribution of renewable energy. The document seeks to create a solid basis for attracting investments, implementing joint research programs, and exchanging technical knowledge, skills and experience between government agencies, regulatory authorities and private sector enterprises of both countries. The forms of cooperation provided for by the agreement include the identification, exchange and assessment of projects and investment opportunities for the production of wind, solar, and hydroelectric power plants, and the construction of energy storage facilities. To ensure the effective implementation of the document, a joint plan for further activities will be developed, including specific mechanisms and responsible structures for its timely implementation.