During a parliamentary committee meeting, Almaz Mambetov, the co-chairman of the Azerbaijan-Kyrgyz Development Fund, announced that $25 million had been deposited into the fund on February 12th. The fund aims to finance projects in education, healthcare, agriculture, and tourism.
Mambetov stated that the fund has received project proposals totaling $80 million and they will carefully review and select the best ones. While no projects have been chosen for funding yet, he mentioned that President Sadyr Japarov is planning to visit Azerbaijan in April, and by then, the fund will have prepared 1-2 projects for consideration.
The Azerbaijan-Kyrgyz Development Fund was established during President Ilham Aliyev's state visit to Kyrgyzstan on October 11-12, 2022, to promote economic cooperation between the two countries, modernize industries, and enhance bilateral economic collaboration. The fund's capital amounts to $25 million, entirely financed by Azerbaijan.
