The Ministry of Economy of Kyrgyzstan and the OPEC Fund for International Development signed a country partnership framework on collaboration in the private sector. The signing ceremony was held online, the press office of the Ministry of Economy of Kyrgyzstan reported.
This document provides the legal framework for collaboration with the OPEC Fund on private sector financing.
In accordance with the document, the OPEC Fund is to provide loans and/or project-based guarantees to Kyrgyzstan, buy shares of Kyrgyz companies and assist in finance and account management. OPEC will make decisions on financing private initiatives based on its assessment of proposed projects.
The Fund has signed similar country partnership framework with Azerbaijan, Georgia, Uzbekistan, Turkmenistan and Tajikistan. Loan terms vary depending on risks and market factors and are set for each project, starting from 1.5%.
