Azerbaijan-Kyrgyzstan Development Fund Approves Investment Report For New Projects
Date
1/30/2025 10:12:45 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 30. During the IV
meeting of the Azerbaijan-Kyrgyzstan Development Fund Council, the
organization's updated investment policy and an investment report
on two projects were approved, along with discussions on other key
matters, the Economy Ministry of Azerbaijan told Trend .
The meeting was chaired by Elnur Aliyev, the First Deputy
Minister of Economy of Azerbaijan and Chairman of the Fund's
Board.
"The meeting was attended by representatives of relevant
governmental bodies from both Azerbaijan and Kyrgyzstan. It was
emphasized that cooperation with the Kyrgyz Republic is expanding
across several areas, including trade, investment, and
transportation. The implementation of tasks set by the heads of
state to strengthen economic cooperation continues successfully.
Special attention is being given to the development of partnerships
through the Azerbaijan-Kyrgyzstan Development Fund, established to
support economic cooperation between the two countries. The Fund
finances priority projects from businesses registered in
Kyrgyzstan.
Following the additional agreement 'On Amendments to the
Agreement between the Government of the Republic of Azerbaijan and
the Cabinet of Ministers of the Kyrgyz Republic' signed in April of
last year, plans are in place to raise the authorized capital of
the Azerbaijan-Kyrgyzstan Development Fund to $100 million. In this
regard, necessary steps are being taken to expedite the process.
Currently, discussions are underway regarding investments in
projects presented for financing through the Fund.
The meeting also approved the Fund's updated investment policy,
the budget for the upcoming year, organizational structure,
staffing, and the investment report for two construction and energy
sector projects. Other issues were discussed during the session,
according to the Ministry of Economy," the ministry said.
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