The new agreement regulates the legal framework for the republic’s interaction with the Fund.
The Ministry of Economy of the Kyrgyz Republic and the OPEC Fund for International Development signed a framework agreement on cooperation in the private sector. The signing ceremony was held online the day before yesterday. This was reported by the press service of the Ministry of Economy of the Kyrgyz Republic.
This document creates a legal basis for cooperation with the OPEC Fund in financing projects in the private sector.
According to the agreement, the OPEC Fund plans to provide loans and/or guarantees for the implementation of projects in Kyrgyzstan, purchase shares of Kyrgyz companies, as well as assist in financial and account management. OPEC will make decisions on financing private initiatives based on its own assessment of the projects provided.
The Fund has previously signed similar framework agreements with countries such as Azerbaijan, Georgia, Uzbekistan, Turkmenistan and Tajikistan. Financing terms vary depending on risks and market factors and are set individually for each project, starting at 1.5 per cent.
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