Kyrgyzstan is currently engaged in negotiations with the Islamic Development Bank (IsDB) regarding a credit facility amounting to $45 mn for the leasing of agricultural machinery. The Ministry of Water Resources, Agriculture, and Food Processing Industry of Kyrgyzstan disclosed that the IsDB mission delegation, along with representatives from the ministry, the Kyrgyz Aiyl Bank, and RSK Bank, convened to discuss the potential project.
The meeting primarily focused on a project proposal aimed at securing an investment credit of $45 mn from the IsDB. This funding would be allocated for leasing agricultural and specialized machinery, vehicles, and equipment for processing enterprises within Kyrgyzstan. The ministry's statement highlighted the importance of this project in enhancing the country's agricultural sector.
Discussions during the meeting encompassed various aspects of the project, including its implementation, anticipated timeframes, key stages, reviews of similar projects, as well as an analysis of both positive and negative aspects encountered during execution. Additionally, participants delved into considerations regarding project outcomes and the subsequent monitoring process.
The IsDB mission is scheduled to continue its activities until May 17, 2024, during which it will conduct inspections of the equipment provided by suppliers to agricultural producers.
The Cabinet of Ministers in Kyrgyzstan disclosed that the IsDB previously undertook 27 projects in the country, amounting to more than $500 mn. Currently, projects exceeding $200 mn are in various stages of implementation, indicating a longstanding partnership between Kyrgyzstan and the IsDB in fostering economic development and infrastructure enhancement.
Comments (0)