Published
05/27/2025, 09:19The Board of the Russian-Kyrgyz Development Fund (RKDF) has approved funding for new projects worth over $95 million. The decision was made during the Fund's first in-person meeting of 2025. The total amount of funding planned by the RCF for the Kyrgyz economy this year will be around $150 million.
As noted by RCF Board Chairman Timur Maximov, 2024 was a breakthrough year for the Fund. In particular, it recorded its highest operating profit in its history, significantly increased its investment portfolio, and improved its profitability and asset quality indicators.
“We reached new heights last year. This is a credit to the entire Fund team. But our task is to move forward. We have outlined new areas of development and are confident that in 2025 we will be able to reach an even higher level,” Maximov said.
It is specified that a budget has been approved for the Fund for 2025, providing for the financing of the Kyrgyz economy in the amount of about $150 million. At the same time, according to the head of the RCF, Artem Novikov, the Fund's board has already approved six new applications for a total amount of financing exceeding $95 million.
“These include projects to establish industrial cooperation and industrial platforms for Kyrgyz Temir Zholu, support for the Kyrgyz sugar industry, as well as new elements of trade finance aimed at strengthening trade between Kyrgyzstan and Russia,” said Artem Novikov, Chairman of the Board of the RCF.
In turn, Minister of Economy and Commerce Bakyt Sydykov called the RCF a strategic partner in the implementation of the state's industrial policy. He noted that with the support of the RCFR, 102 industrial enterprises were opened in the country in 2024, and another 128 are expected to be launched in 2025.
“In this regard, the RCFR remains a key partner for us in fulfilling the instructions of the country's leadership and financing strategically important projects,” said Sydykov.
The meeting also discussed progress in implementing the Fund's strategy. Plans include the active development of instruments such as leasing and factoring, as well as improving project management efficiency. The RCFR intends to maintain its status as a leading financial institution and continue to make a significant contribution to the republic's economy.
