The State Development Bank of the Kyrgyz Republic, the National Investment Fund, and the Azerbaijan-Kyrgyz Development Fund signed a memorandum of intent to jointly participate in and finance a small hydropower plant project.
The signed memorandum covers financing for a project to construct a small hydropower plant in the Chui region. The project aims to meet the growing demand for electricity in the Kyrgyz Republic, create additional jobs, and increase budget revenues.
During the meeting, the issue of strengthening institutional cooperation and developing financing mechanisms for investment projects of strategic importance to the economy of the Kyrgyz Republic was discussed.
The parties agreed to coordinate efforts to attract investment, develop project and long-term financing, support joint initiatives in the real sector of the economy, and exchange information and expertise in the implementation of investment projects.
Particular attention will be paid to financing priority sectors, including industry, infrastructure, energy, agro-industrial complex, and support for small and medium-sized businesses.
The signing of the memorandum creates the foundation for the practical implementation of joint projects, increased investment activity, and the development of sustainable financial instruments aimed at long-term economic growth.
