Construction of Hydropower Plant and Garment Factory Approved by Azerbaijan and Kyrgyzstan
The Azerbaijan-Kyrgyzstan Development Fund to Finance Two Projects in Kyrgyz Republic
Bishkek – 15:11, 01 February 2025 – The Azerbaijan-Kyrgyzstan Development Fund has announced that it will be financing two projects in the Kyrgyz Republic, as reported by the Ministry of Economy and Commerce.
Following the 4th meeting of the fund’s board, which took place in Baku, it was decided that the fund will support the construction of a small hydropower plant with a capacity of 9 megawatts, as well as a modern garment factory that will create 300 jobs.
Additionally, the fund has approved its investment policy and other necessary documents for its operations. The concept of financing the construction of a multifunctional center has also been given the green light.
Established in 2023 with a capital of $100 million, the Azerbaijan-Kyrgyzstan Development Fund aims to support economic development and investments in the Kyrgyz Republic.
This initiative signifies a strong partnership between Azerbaijan and Kyrgyzstan, demonstrating their commitment to economic growth and sustainable development in the region. It is hoped that these projects will contribute to the growth of the Kyrgyz economy and create new employment opportunities for the local population.
