Russian Kyrgyz Development Fund was established and operates now in accordance with the Agreement between the Government of the Kyrgyz Republic and the Russian Federation "On Russian Kyrgyz Development Fund" dated November 24, 2014.
Russian Kyrgyz Development Fund is the most important mechanism of the integration of the Kyrgyz Republic into the Eurasian Economic Union.
Russian Kyrgyz Development Fund was established to promote economic cooperation between Kyrgyzstan and Russia, to modernize and develop the Kyrgyz economy, and effectively use the opportunities sparked by the participation of the sides in the Eurasian economic integration.
The social and economic situation in the country will depend on the ability and the speed of refocusing of its economy to produce competitive products and absorb the released workforce. In this context, the focus shall be placed on the development of those economic sectors, which in the short term can create the maximum number of jobs and in the long term to ensure the competitiveness of the economy and fill the niche in the global economy. Such measures are impossible without financial support from the Government and development partners to adjust local businesses to a rapid change of the conditions of the economic environment.
MISSION OF THE FUND
The mission of the Fund is to promote modernization and development of the economy of the Kyrgyz Republic, as well as economic cooperation between the member countries of the Fund. The Fund aims to become a driver for the development of the economy of the Kyrgyz Republic within the framework of the Eurasian economic integration.
THE MAIN PRINCIPLES OF THE FUND'S WORK
The investment projects financed by the Fund ensure the modernization and development of the economy of the Kyrgyz Republic.
We are ready to provide loans for the introduction of new products into production. Overall, the one who offers something new will win, not the one who follows the resourceful competitors. To get fundingfor such projects is virtually impossible. The work of the Fund fills in this gap.
The Fund's work is based on the openness and transparency of the investment process with the use of the best practice of corporate governance.
The Fund supports the enterprises that produce products intended for export
FINANCING OF BUSINESS PROJECTS
The Fund provides financing for those projects, which besides commercial benefits for the owners, have a positive impact on the overall economy, create more jobs, increase tax payments, target on the export, or import substitution, on the increase of industrial production, and have positive effect on the development of local communities.
The Fund places priority on the development of the agricultural sector, the garment and textile industry, manufacturing, mining and metals, transport, housing, as well as infrastructure development.
The Fund attaches an important role to the environmental aspects of the financed projects. The projects financed by the Fund must comply with the requirements of the legislation of the Kyrgyz Republic on environment and safety. Particular emphasis has been given to the projects aimed at rational use of resources and energy, waste reduction, processing and regeneration of resources, the use of environmentally friendly technologies.
The Fund does not finance those activities that use forced and child labor; production and distribution of tobacco and alcohol products; gambling business; the activities prohibited by the legislation of the Kyrgyz Republic and the Russian Federation; as well as other activities by the decision of the Board and/or the Executive Board of the Fund.