Kyrgyz-Hungarian Development Fund capital to be increased by $34 million

AKIPRESS.COM – Minister of Water Resources, Agriculture and Processing Industry Bakyt Torobaev met with Minister of Foreign Affairs and Trade of Hungary Péter Szijjártóin Budapest, the Cabinet of Ministers reported.

The parties discussed the implementation of the Declaration on Expanded Strategic Partnership signed last November in Bishkek by President Sadyr Japarov and Prime Minister of Hungary Viktor Orban.

During the meeting, they considered the possibility of developing a comprehensive long-term plan for the development of Issyk-Kul with the involvement of Hungarian and Kyrgyz specialists, taking into account the experience of developing and regulating Lake Balaton and adjacent territories.

In addition, the issue of increasing the authorized capital of the Kyrgyz-Hungarian Development Fund was touched upon, taking into account the dynamics of bilateral trade, economic and investment relations.

Following the talks, an agreement was reached on increasing the budget of the Kyrgyz-Hungarian Development Fund by an additional $34 million. The possibility of creating and holding a meeting of the business council was also considered.

“The issues of increasing the volume of exports of environmentally friendly domestic products to European countries were discussed. The prospect of creating logistics centers that meet European quality and safety standards was considered,” the report says.

The official launch ceremony of the Kyrgyz-Hungarian Development Fund was held in Bishkek on November 5, 2021 with the participation of Minister of Economy and Commerce Daniyar Amangeldiev, Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó.