Tourism was included in the list of priority sectors for the financing by the Russian-Kyrgyz Development Fund. The head of the Fund's Board Nursulu Akhmetova announced today at a meeting of the Committee on Budget and Finances of the Parliament.
She said that the first project at $ 7 million, which was supported by the Fund, was aimed at the development of poultry industry and food security of the country. "The second project, worth $ 9 million, was aimed at the development of the textile industry. In addition, we have allocated $ 4 million for the modernization of Issyk-Kul International Airport in Tamchy and upgrading of equipment of Kyrgyzaeronavigatsiya to ensure flights safety, to increase the flow of tourists," Nursulu Akhmetova added, stressing that henceforth the tourism sector will be given the same priority, as well as agriculture.
According to the head of the Fund's Board, it was decided to change the key requirements on credits to the applicants. In particular, there were increased credit terms, which are now 15 years for big industrial and housing companies, up to 10 years- for manufacturers and agricultural enterprises, and credits for other commercial projects will be issued for up to 7 years. The minimum required amount of lending has been reduced from 3 to 1.5 million soms, and the own contribution share, which was 20 percent, will now make up 15 percent.
By the way, answering the questions of MPs, Nursulu Akhmetova noted that the Russian investors, as well as other foreign businessmen, can receive funding only after opening a business in Kyrgyzstan. "This is one of the basic conditions, in addition, projects should be implemented in the Kyrgyz Republic," she added, commenting on rejection of the Fund in purchase of buses. "Purchase of buses is not modernization of the Kyrgyz economy, therefore we have held various negotiations and offered the applicants to open service centers in the country. Let it be a project on servicing of the same buses, or at least their CKD assembly in the country, only in this case we are ready to finance investors," she explained.
In conclusion Nursulu Akhmetova said that at the request of deputies the Fund will work out the inclusion of health services into the list of financed sectors under the condition that it will be a private clinics' contribution to the economy.