Kyrgyz-Russian Development Fund to be set up

Kyrgyzstan and Russia have agreed to set up the Kyrgyz-Russian Development Fund to help develop Kyrgyzstan’s economy and infrastructure. The fund will provide loans to the agrarian sector at highly favourable rates while its infrastructure projects, its manufacturing and housebuilding industries and its mortgage lenders will also be eligible for loans at a discount if slightly higher rate, Economy Minister Temir Sariyev said last week. AKI Press