ASTANA (Kazakh Ministry of Foreign Affairs) – The official presentation of the joint Kazakh-Kyrgyz Investment Fund (KKIF) took place on August 16 in Bishkek. Ambassador of Kazakhstan Beibit Issabayev, Deputy Ministry of Economy and Anti-Monopoly Policy of the Kyrgyz Republic Sanzhar Mukanbetov, CEO of Kazyna Capital Management Borisbiy Zhangurazov and businessmen of both countries participated in the event.

In 2007 the President of Kazakhstan Nursultan Nazarbayev suggested the creation of a fund to facilitate Kyrgyzstan’s economic development. However, the sides started implementing this project only in 2011. KKIF was created with a capital of US $100 million, fully funded by the Kazakhstan. Its main objective is to render financial assistance to Kyrgyzstan’s economy through implementation of the priority projects on its territory and effective development of small and medium businesses in Kyrgyzstan.

KKFI has already evaluated 82 projects of the companies operating in Kyrgyzstan. The selected projects will be submitted for consideration of the KKIF’s Board of Directors.

In the period of 2006-2011, Kazakhstan has invested about US $1 billion in Kyrgyzstan.