Hungarian-Kyrgyz Development Fund Continues Operations, Confirms Economy Ministry
Hungarian-Kyrgyz Development Fund Continues Operations Despite Recent Corruption Charges
Despite the recent detention of Temirbek Erkinov, advisor to the Chairman of the Cabinet of Ministers and head of the Hungarian-Kyrgyz Development Fund, on corruption charges, the institution and its Board are reported to be operating as usual. The Ministry of Economy and Commerce has confirmed that the Fund is continuing to receive and consider funding applications for projects aimed at developing trade and economic relations between Kyrgyzstan and Hungary, modernizing the economy, and attracting new technologies.
The Fund has so far approved financing for three projects totaling $1,953.6 million, and of its authorized capital of $16 million, at least $13.7 million is currently in its National Bank account, the Ministry added. The Council has also held a meeting to determine further priority tasks for the near future.
The recent corruption charges have not affected the Fund’s operations or its commitment to its stated goals and objectives. The Hungarian-Kyrgyz Development Fund is an important institution promoting economic cooperation between the two countries, and its continued success is seen as crucial for the development of both economies.
