Russian-Kyrgyz Development Fund intends to attract investors to 5-6 major projects till the end of the year, the fund manager Kubanychbek Kulmatov said today at a meeting with journalists.
According to him, currently 420 projects are being implemented. Through direct funding there were allocated $45.7 million for 12 projects, through banks-partners - 2.8 billion soms for 408 projects. The investor will finance projects which are backed by a state guarantee. "For the political hype we forget that we could not export anything before. With the entry into the Eurasian Economic Union, a big market appeared. It is profitable for investors either," Kubanychbek Kulmatov said.
"Fund provides money for economic development, rather than for the turnover of funds. Recipients understand that we won't give them free money," Kubanychbek Kulmatov noted.
Basically, the fund provides loans for agricultural projects, manufacturing, transport infrastructure (all - 27 percent), other (12 percent), communications (7 percent). However the Fund doesn't disclose information about income and ongoing projects.