Hungarian-Kyrgyz Development Fund to start working in Kyrgyzstan

Bishkek, July 6, 2021. / Kabar /. The Committee on International Affairs, Defense and Security of the Jogorku Kenesh of the Kyrgyz Republic considered and approved in the first reading the draft law on the establishment of the Hungarian-Kyrgyz Development Fund, the press service of the Kyrgyz parliament reported. It was noted that the authorized capital is USD 16 million with the subsequent increase of the authorized capital to USD 50 million. The fund will become a platform for attracting investments and implementing investment projects. The Board of Directors will consist of 5 people: Kyrgyz side - 3 representatives, Hungarian side - 2 representatives. During the discussion, Deputy Bakhadyr Suleimanov drew particular attention to the volume of trade between Kyrgyzstan and Hungary, highlighting the issue of the expediency of creating this fund. Deputy Irina Karamushkina raised the issue of the activities of this fund, mechanisms for managing financial resources.