On April 26, 2024, Chairman of the Management Board Meder Temirbekov, on behalf of the State Development Bank of the Kyrgyz Republic, signed a trilateral Memorandum of Understanding jointly with the Ministry of Economy and Commerce of the Kyrgyz Republic and the Silk Road Foundation (Silk Road. Fund Co., Ltd.).
The purpose of this Memorandum is to attract financial resources from the State Development Bank and the Silk Road Fund to explore co-investment and/or co-financing opportunities and, in particular, to provide financing and financial support for cross-border trade and economic activities between Kyrgyzstan and China.
Currently, China is one of the main trade and investment partners of Kyrgyzstan. In this regard, cooperation with the Silk Road Foundation will contribute to the further development of trade and economic relations between the two countries and the implementation of projects of mutual interest.
As for the scope of cooperation, the parties will consider all business sectors that are fully or partially open to foreign investment and in which relations between Kyrgyzstan and China can be further strengthened, paying special attention to the following sectors: infrastructure, logistics and transport, healthcare and medical services, digital infrastructure, technology, financial services, resources and renewable energy sources, agriculture and manufacturing.
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The Silk Road Fund was established in Beijing on December 29, 2014 and currently has a total authorized capital of 40 billion US dollars and 180 billion yuan. Following the philosophy of openness, inclusivity and mutual benefit, the Silk Road Foundation serves the 1 Belt- 1 Road initiative by providing investment and financial support for trade and economic cooperation within the framework of this initiative in order to contribute to the overall development and prosperity of the countries of the 1 Belt-1 Road region.