Kyrgyzstan President says Russian-Kyrgyz development fund to contribute to new job creation

BISHKEK, November 5. /TASS/. President of Kyrgyzstan Almazbek Atambayev hopes that the Russian-Kyrgyz development fund will contribute to new job creation in the republic and its economic development, he said at the meeting with the fund’s chairman, Russia’s Deputy Finance Minister Sergey Storchak on Thursday. "The head of the state stressed the importance of the fund for providing real access of the country’s processors and farmers to cheap loans under favorable terms and provide more flexible conditions to local manufacturers," President’s press service said in a report. President of Kyrgyzstan also outlined priority areas of economic growth of the republic. "Efficient implementation of particular projects in agriculture, textile industry, infrastructure and processing sector will contribute to creation of new work places and expansion of export potential of the country within its participation in the process of Eurasian economic integration," the report said. The Russian-Kyrgyz development fund’s foundation was based on the agreement, made by governments of Kyrgyzstan and Russia last year. It’s mainly aimed at backing Kyrgyz producers in their adjustment to the Eurasian Economic Union /EAEU/ environment. The republic joined the EAEU on August 12, 2015. Under the agreements reached by the sides Russia will provide $500 mln to the fund. The fund will first of all provide lending on attractive terms for the most promising from economic point of view projects within Kyrgyzstan. Read more