Azerbaijan-Kyrgyz Development Fund Reviewing New Projects
Date
3/11/2024 10:08:28 AM
(MENAFN- AzerNews)
Fatime Letifova Read more
Projects with a total value of 80 million US dollars are being
considered for the Azerbaijan-Kyrgyz Development Fund, Azernews reports, citing the Fund.
The head of the fund, Almaz Mambetov, noted that the fund is
reviewing projects.
"We are currently reviewing these projects. But we can send them
back for reprocessing or reject some of them. Most of the submitted
projects are aimed at the development of tourism," he said.
A. Mambetov added that projects worth up to 1 million US dollars
are reviewed, and the decision on such projects is made by the
board of directors.
It should be recalled that the agreement on the establishment of
the Azerbaijan-Kyrgyz Development Fund was signed during the state
visit of the President of Azerbaijan, Ilham Aliyev, to Kyrgyzstan
on October 11-12, 2022. This fund was created for the purposes of
promotion of economic cooperation between Kyrgyzstan and
Azerbaijan, modernization and development of industry, efficiency,
and expansion of bilateral economic cooperation.
The authorised capital of the fund is 25 million US dollars.
Financing is carried out entirely by Azerbaijan.
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