RKFR, Eldik Bank, and Eldik Leasing launch joint program with $2 million in financing

The Russian-Kyrgyz Development Fund (RKDF), Eldik Bank OJSC, and Eldik Leasing LLC have signed a memorandum of cooperation aimed at developing the leasing sector in Kyrgyzstan. Under the agreement, the RKDF has allocated US$2 million to Eldik Bank US$2 million to support leasing operations, modernize the economy, and upgrade the fixed assets of enterprises.

The partnership covers the financing of foreign trade and investment projects, including agriculture and processing, as well as the development of new leasing products, including for Kyrgyz citizens working in Russia. The parties agreed to exchange experience and work together to strengthen the institutional framework of the market.

“The memorandum we signed today opens a new page in the development of leasing in Kyrgyzstan,” said Artem Novikov, Chairman of the Board of the Kyrgyz Republic Development Bank.

Eldik Leasing CEO Urmat Akmatov added that the company has already been recapitalized by KGS 500 million and plans to increase its capital to KGS 1.5 billion by the end of the year to finance large projects and develop its retail business.