(MENAFN- Trend News Agency)
BISHKEK, Kyrgyzstan, November 4 . Kyrgyzstan and
the OFID (OPEC Fund for International Development) have agreed to
develop a roadmap for implementing joint projects, Trend reports, referring to the country's
Ministry of Economy and Commerce.
The agreement was enacted during a meeting between Sanzhar
Bolotov, Deputy Minister of Economy and Commerce, and Shaimaa
Al-Sheiby, Vice President of OFID, at the 9th session of the
Kyrgyz-Austrian Commission on Bilateral Economic Relations in
Vienna.
Bolotov provided an overview of Kyrgyzstan's current economic
situation at the meeting, emphasizing ongoing reforms designed to
foster a favorable business environment and attract foreign
investment.
He also highlighted key strategic projects, including the
construction of the Kambarata HPP-1 and the
China-Kyrgyzstan-Uzbekistan railway, both of which are vital for
the country's infrastructure development.
Bolotov suggested that OFID consider participating in projects
related to energy, transport infrastructure, agriculture, and
housing mortgage construction.
The parties also explored opportunities for financing private
investment projects under the Framework Agreement for organizing
private sector operations between Kyrgyzstan and OFID, signed on
August 22, 2024.
To note, OFID, established in 1976, is a multilateral
development finance institution comprising 12 member countries,
including Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait,
Libya, Nigeria, Saudi Arabia, the UAE, and Venezuela. It is the
only globally authorized development institution that provides
funding from member countries exclusively to non-member states.
The organization works in partnership with developing countries
and the global community to kickstart economic growth and pave the
way for social progress in low- and middle-income nations.
MENAFN04112024000187011040ID1108847024
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.