Published
06/16/2025, 10:34The Russian-Kyrgyz Development Fund intends to invest around $160 million in the Kyrgyz economy by the end of this year. This was announced by the head of the RCF, Artem Novikov, at the opening of the Asyltash ceramic granite production plant in the Issyk-Ata district.
According to him, to date, the fund has already invested more than $65 million in various projects. Recently, the fund's board approved a number of new initiatives worth $95 million, including support for the sugar industry, the development of trade finance instruments, and measures to strengthen the country's export potential, including porting.
One of the fund's flagship projects is the Asyltash plant, in which $40 million has already been invested, of which $25 million was provided by the fund under state guarantees. The plant has a production capacity of 3.3 million square meters of tiles and porcelain stoneware per year. About 60% of the production is destined for export to the EAEU countries, Uzbekistan, and Tajikistan.
The project is being implemented with the use of Italian technology and specialists. According to representatives of the fund, Asyltash has become the first industrial enterprise of this scale to receive support at all levels, from investment agreements to customs and tax incentives.
The fund also announced plans to go public to attract additional resources.
“Demand for financing is growing, and the economy is developing faster than in other EAEU countries. We intend to make the most of the fund's potential to accelerate modernization,” said Artem Novikov.
