Companies will be able to obtain nearly interest-free loans for joint industrial projects in the EAEU

A meeting between Gohar Barseghyan, Minister of Industry and Agriculture of the Eurasian Economic Commission, and representatives of Kyrgyz businesses was held in Bishkek. The event was organised by the Russian-Kyrgyz Development Fund.

The meeting was attended by Minister of Economy and Commerce Mederbek Tumanov, members of the RRF board Anton Vetoshkin and Bakyt Kurmanbekov, as well as more than 40 entrepreneurs and bankers.

The main topic was the discussion of new opportunities for industrial cooperation between the EAEU countries. Gohar Barsegyan explained that the initiative aims to establish joint ventures, develop exports and strengthen the industrial potential of the Union countries.

Entrepreneurs were told that Kyrgyz companies will be able to obtain loans on highly favourable terms through a special EAEU support mechanism. The EAEU will subsidise interest rates up to the key rate of the National Bank of Kyrgyzstan.

Given that the NBK rate is currently 10%, loans for businesses could be almost zero.

‘The Russian-Kyrgyz Development Fund is ready to consider applications from companies that want to launch joint projects in the fields of manufacturing, import substitution and technology. The main thing is that these projects help to develop the country's industry and create jobs,’ said representatives of the Fund.

During the discussion, entrepreneurs asked questions about the practical steps for participating in the programme, the selection criteria and the application procedure. Following the meeting, the parties agreed to continue their joint work and exchange proposals aimed at developing industrial cooperation within the EAEU.