Issyk-Kul Development Fund finances projects for 572 million soms in six months

The Issyk-Kul Region Development Fund has significantly boosted local projects, financing 572.1 million soms worth of initiatives between January and June 2026. This financial injection supports the socio-economic development of the region, a key objective for the fund established in 1997. During the first half of the year, the fund's coffers were bolstered by 810.6 million soms from the Kumtor Gold Company, a crucial contributor under a long-standing agreement where the company allocates 1 percent of its gross revenue to the fund. An additional 125.2 million soms were generated from the fund's own revenue-generating projects, contributing to a robust financial standing.

The fund's management directorate reported that its financing plan for the first half of the year reached 1.438 billion soms, with an impressive 95.4 percent implementation rate. This indicates a strong operational capacity and effective deployment of resources. Beyond direct project financing, the fund allocated 31.9 million soms for co-financing 15 projects and leasing specialized equipment. Furthermore, 104.4 million soms were disbursed to 21 entrepreneurs as a second tranche of interest-free, repayable assistance, demonstrating a commitment to supporting small and medium-sized businesses within the region.

Among the diverse projects receiving support is a glamping camp in the village of Kerege-Tash, Ak-Suu district, which received 5 million soms in interest-free assistance for construction materials and equipment. Another notable investment is a modern garment workshop in the same district, which secured 4.5 million soms in similar interest-free loans to establish operations. This workshop currently provides employment for 10 individuals. The fund highlighted that the demand for financing new projects is currently exceeding the projected funds available for 2026, signaling a strong entrepreneurial spirit and a need for continued investment in the region's development.