Uzbek-Kyrgyz Fund Implements $100M in Projects

Tashkent, Uzbekistan (UzDaily.uz) — The Uzbek-Kyrgyz Development Fund has approved 37 projects across various economic sectors worth over $100 million during its four years of operation, Chairman of the Board Aziz Aaliyev announced at the Kyrgyz-Uzbek Business Forum in Bishkek.

According to Aaliyev, funded initiatives include projects in energy, transport, the social sector, garment manufacturing, as well as the supply of machinery and components to Kyrgyzstan from Uzbekistan and other countries.

Aaliyev noted that nine of the 37 projects have already been fully completed, with participating companies successfully executing their initiatives and fully paying off their loans.

The fund is currently evaluating 11 new projects worth approximately $100 million. The head of the fund emphasized that the organization's primary objective remains bringing together businesses from both nations, identifying mutually beneficial export-import projects, and strengthening trade and economic cooperation between Uzbekistan and Kyrgyzstan.

He also announced plans to expand financing options by using national currencies, a decision that has already received approval and will help reduce currency risks for entrepreneurs. Additionally, the fund intends to introduce lending mechanisms based on Islamic finance principles.