‘Kaindy-Kant’ has borrowed over $13 million from the RKDF and ‘Demir Bank’, which must be repaid as early as 2027

One quarter – several loans simultaneously in two currencies. The company ‘Kaindy-Kant’ announced that it had raised 427.7 million KGS and $8.46 million from the Russian-Kyrgyz Development Fund and ‘Demir Bank’.

The bulk of the KGS-denominated funds came from the RKDF . The Fund provided the company with six loans totalling 366.5 million KGS. The largest loan – 122 million KGS – was arranged on 28 April. The company received a further 90 million KGS on 16 April and 87 million KGS on 9 June.

In addition, the report lists loans from the RKDF amounting to 31 million, 27.5 million and 9 million KGS. The company is due to repay these in 2027.

The company did not limit itself to KGS-denominated loans. On 1 April alone, ‘Kaindy-Kant’ secured three loans from ‘Demir Bank’ for $7.05 million, $715,000 and $695,000. As a result, the total amount of foreign currency liabilities to the bank reached $8.46 million.

In addition, ‘Kaindy-Kant’ received a further loan from the bank – 61.2 million KGS. These loans are due to be repaid in March–May of next year.

Thus, within a short period, ‘Kaindy-Kant’ has accumulated a substantial portfolio of liabilities, which it will have to settle as early as next year. The quarterly report does not specify the exact purposes for which the funds were raised.