Kyrgyzstan and Azerbaijan have shortlisted the first projects following the fund’s capital increase to US$100 million

Following the increase in the authorised capital of the Azerbaijan-Kyrgyz Development Fund to US$100 million, the parties have already compiled a shortlist of projects, four of which are currently awaiting approval.

This was announced by Kyrgyzstan’s Minister of Economy and Trade, Bakyt Sydykov, to journalists on the sidelines of the EABR’s annual meeting and business forum.

According to him, work on the projects is proceeding actively. In addition to the initial applications, other initiatives have also passed the preliminary selection stage.

The minister also stated that Kyrgyzstan and Azerbaijan are exploring the possibility of Azerbaijani oil supplies. The parties are currently assessing Kyrgyzstan’s needs and Azerbaijan’s capabilities in order to determine the optimal supply volumes.

Furthermore, Bishkek is interested in developing the Trans-Caspian International Transport Route. Kyrgyzstan hopes to contribute to the project via the China–Kyrgyzstan–Uzbekistan railway, currently under construction, which is regarded as part of the southern branch of the Middle Corridor.

The increase in the capital of the Azerbaijan-Kyrgyzstan Development Fund to $100 million was aimed at expanding investment cooperation between the two countries and financing joint projects.