On July 30, 2024, in order to expand partnership relations, a Memorandum of Cooperation and Interaction was signed between the State Development Bank of the Kyrgyz Republic (hereinafter referred to as SDB), represented by the Chairman of the Board Meder Temirbekov and the Hungarian-Kyrgyz Development Fund (hereinafter referred to as HKDF), represented by the Chairman of the Board Ulan Sarbanov.

The signed Memorandum is aimed at establishing partnership relations and developing long-term, effective and mutually beneficial cooperation aimed at implementing joint projects and financing projects that stimulate the development of the country's economy.

The parties agreed that within the framework of interaction, the proposed projects will meet the strategic goals and lending criteria of the SDB and HKDF, including contributing to:

• sustainable development of export potential;

• attracting investment to the country;

• increasing competitiveness in international markets;

• diversification and expansion of sales markets;

• development of the economy and business in the regions;

• increase in the number of jobs;

• increase in tax revenues to the budget.