On the meeting of the Council of the Hungarian-Kyrgyz Development Fund

On August 29, 2023, the regular seventh meeting of the Board of the Hungarian-Kyrgyz Development Fund (hereinafter referred to as the HKDF or the Fund) was held under the chairmanship of Daniyar Amangeldiyev, Minister of Economy and Commerce of the Kyrgyz Republic. From the Kyrgyz side, Aibek Moldogaziev, Deputy Minister of Foreign Affairs of the Kyrgyz Republic, and Ruslan Tatikov, Deputy Minister of Finance of the Kyrgyz Republic participated in the meeting; from the Hungarian side - Ruszlána Dunás-Varga and János Vanyik, high-ranking officials of the Ministry of Foreign Affairs and Trade of Hungary. Reports on the agenda of the meeting were presented by Ulan Sarbanov, Chairman of the Board of the HKDF, and Ulukbek Karmyshakov, Deputy Chairman of the Board of the Fund.

The meeting agenda consists of eight issues:

1. About the Vice-Chairman of the Council of the Fund: Ruszlána Dunás-Varga was appointed to this position by the decision of the Chairman of the Council.
2. On the implementation of decisions of the Fund Council: information on the implementation of decisions taken at the six meetings held from the beginning of November 2021 to mid-May 2023 was considered based on the discussion.
3. On the Annual Report of the Management Board for 2022, the financial statements of the Fund as of the end of 2021 and 2022, considering the Report of external auditors: the report of the Management Board was approved, and the financial statements for 2021 and 2022 and the repot of an independent audit company were accepted by note.
4. On the implementation of the budget for 2022: the corresponding report was approved.
5. On the Report of the Board of the Fund on project work for the 1st half of 2023: considered taking into account the messages of the Chairman of the Council supported by the Deputy Chairman of the Council.
6. On the composition of the Credit Committee: Council members agreed with the proposed changes both in the composition of the Credit Committee and the distribution of authority between the Council, the Board and the Credit Committee and Board instructed to prepare changes to the relevant internal regulatory documents of the HKDF.
7. On the temporary provision on the placement of temporarily free funds of the Fund: this document was also approved.
8. Miscellaneous: both the cornerstones of potential projects that the Board of the Fund should pay attention to, and the organizational and technical issues of the work of the Fund's office were discussed here.

The Chairman of the Council and members of the Council paid special priority attention to the need to intensify the work of the Board on projects of mutual interest to the Kyrgyz and Hungarian parties. The first project - the development of horse breeding - was financed by the Fund in April-May of this year for a total amount of 650.0 thousand US dollars.