Azerbaijan-Kyrgyzstan Development Fund Capital to Double to $200 Million

The capital of the Azerbaijan-Kyrgyzstan Development Fund is set to double, increasing from $100 million to $200 million. Azerbaijani President Ilham Aliyev announced the decision during an informal Consultative Meeting of the Heads of State of Central Asia and Azerbaijan held in Cholpon-Ata, Issyk-Kul region.

Presidents of Kyrgyzstan and Azerbaijan signed a document formalizing this increase following negotiations on Issyk-Kul Lake. President Aliyev stated that the agreement "envisages increasing the funds of the joint Azerbaijan-Kyrgyzstan Fund from 100 million dollars to 200 million dollars."

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One of the documents we signed today envisages increasing the funds of the joint Azerbaijan-Kyrgyzstan Fund from 100 million dollars to 200 million dollars.

Aliyev noted that he had reviewed the fund's performance, highlighting that it has financed a number of projects and facilitated the launch of several enterprises. "Information about the work done, about the projects already implemented within the framework of financing from the joint fund, was presented to us. Several enterprises are already functioning, the potential is, of course, very large," he emphasized.

The Azerbaijani president also underscored the successful development of trade and economic relations between Kyrgyzstan and Azerbaijan. He expressed confidence in the continued expansion of bilateral cooperation.

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Information about the work done, about the projects already implemented within the framework of financing from the joint fund, was presented to us. Several enterprises are already functioning, the potential is, of course, very large.