Uzbekistan to grant Kyrgyzstan $50 million for economic projects

Uzbekistan will allocate $50 million to Kyrgyzstan for the implementation of various economic projects, 24.kg reports. 

The deputies of the Kyrgyz parliament have approved the ratification of the agreement on the establishment of the Kyrgyz-Uzbek development fund. According to it, Uzbekistan will allocate funds to Kyrgyzstan.

Reportedly, a board of directors will be created and it will include three representatives from Uzbekistan and two from Kyrgyzstan.

“Back in 2017, during the first visit of Sooronbay Jeenbekov to Tashkent, the parties signed an agreement on financial cooperation. It also provided for the creation of a fund. This agreement will now be implemented,” the report reads.