Vecherniy Bishkek (vb.kg): The Amount of the Credit to Finance Agricultural Machinery Supplies to Kyrgyzstan to be Approved by the End of the Year (Unofficial translation)

20 August 2013

The Council of the EurAsEC Anti-Crisis Fund is planning to finally approve the allocation of a credit to finance agricultural machinery supplies to Kyrgyzstan by the end of the year. VB received this information today, on August 19, at the press service of the Eurasian Development Bank (EDB), Anti-Crisis Fund Resources Manager. According to the press service, the amount of funds to finance the project, which has been approved by the Fund Council on a preliminary basis, was US $ 20 million. The credit is expected to be provided for 20 years with a grace period of 8 years at the interest rate of 1 % annual. “The financing is planned to be disbursed after the project final approval by the Anti-Crisis Fund Council in QIV of 2013. The schedule of disbursements and repayments is currently discussed with the authorities of Kyrgyzstan,” they clarified at EDB. It should be noted that earlier VB reported that EDB, jointly with the Ministry of Finance, Ministry of Agriculture and Amelioration, and Aiyl Bank OJSC, drafted a concept for the project of supplying over 4 thousand units of agricultural machinery to agricultural producers in Kyrgyzstan from EurAsEC countries.

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