BISHKEK, Kyrgyzstan, December 20. The
Russian-Kyrgyz Development Fund (RKDF) has signed an agreement to
provide $25 million in working capital financing to Kaindy-Kant
OJSC and Koshoy OJSC, continuing efforts to strengthen Kyrgyzstan’s
sugar industry and ensure food security, Trend reports via RKDF.
The funding will enable the two factories to increase sugar beet
procurement and boost production, meeting domestic demand while
supporting the broader agricultural ecosystem. The plants, which
employ around 1,500 workers, provide stable markets for 3,500 farms
and are part of a supply chain that employs roughly 100,000 people
nationwide.
Artem Novikov, Chairman of the RKDF, noted that the Fund’s
previous investment of $16 million in 2016–2017 allowed the two
factories to resume operations and achieve record output levels.
The new financing aims to further expand capacity and strengthen
the industry’s contribution to the national economy.
As of November 1, the largest volumes of investment flowed into
the following sectors of Kyrgyz economy from RKDF: agro-industrial
complex—$198.6 million, manufacturing—$140.4 million,
hydropower—$127.6 million, and construction materials
production—$187.6 million.
The Russian-Kyrgyz Development Fund (RKDF), established in 2014,
aims to enhance economic cooperation between Russia and Kyrgyzstan.
It focuses on modernizing Kyrgyzstan’s economy by investing in key
sectors such as agriculture, manufacturing, infrastructure, and IT,
with a significant emphasis on supporting small and medium-sized
enterprises (SMEs). The fund provides long-term loans and financing
to drive sustainable growth and leverages opportunities within the
Eurasian Economic Union (EAEU).
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