Azerbaijan-Kyrgyz Fund, Eldik Bank Unite To Support Key Initiatives In Kyrgyzstan

2025-09-19 02:05:55

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, September 19. Kyrgyzstan's Eldik Bank and the Azerbaijan-Kyrgyz Development Fund (AKDF) have signed a Memorandum of Cooperation aimed at advancing joint investment projects, modernization, and strengthening Kyrgyzstan's economy, Trend reports via Eldik Bank.

The signing ceremony was attended by First Deputy Chairman of Eldik Bank, Akylbek Turdaliev, and Co-Chairs of the AKDF Board, Igbal Babayev and Zamirbek Osmonov.

Under the Memorandum, the parties expressed readiness to implement investment projects of mutual interest for Kyrgyzstan and Azerbaijan. Special focus will be placed on initiatives promoting economic modernization, entrepreneurship development, and the effective use of bilateral cooperation potential.

“The signing of this Memorandum with the Azerbaijan-Kyrgyz Development Fund opens new horizons for a strategic partnership. We are confident that joint efforts will contribute to strengthening economic ties between our countries and to the successful implementation of significant projects for Kyrgyzstan,” said Turdaliev.

AKDF noted that his Memorandum marks an important step in enhancing economic cooperation between Kyrgyzstan and Azerbaijan. The AKDF is committed to supporting initiatives that foster sustainable development, innovation, and opportunities for small and medium-sized businesses, as well as large infrastructure projects of strategic importance.

The Azerbaijan-Kyrgyzstan Fund was established following the agreement between the Government of Azerbaijan and the Cabinet of Ministers of Kyrgyzstan dated October 11, 2022, with an authorized capital of $25 million. The activity of the fund is aimed at promoting economic cooperation between the two countries. In the course of the state visit of the President of Kyrgyzstan, Sadyr Zhaparov, to Baku on April 24, 2024, an additional agreement was inked that increased the authorized capital of the Fund to $100 million.

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