On the extraordinary 17th meeting of the Council of the Hungarian-Kyrgyz Development Fund

The Chairman of the Council of the Hungarian-Kyrgyz Development Fund (hereinafter referred to as the HCDF or the Fund), Minister of Economy and Commerce of the Kyrgyz Republic, Bakyt Sydykov, held an extraordinary 17th meeting of the Council. The meeting was attended by Deputy Chairman of the Council, Trade Counselor, First Secretary of the Embassy of Hungary in Astana, Zoltan Nyitrai; Member of the Council, Attaché for Economic Affairs of the Embassy of Hungary in Tashkent, Marton Kovacs; Member of the Council, First Deputy Minister of Finance of the Ministry of Finance of the Kyrgyz Republic, Ruslan Suinaliev and Member of the Council, Deputy Minister of Foreign Affairs of the Kyrgyz Republic, Temirbek Erkinov.

Reports on the agenda of the meeting were presented by the Chairman of the Board of the Fund Ulan Sarbanov, his deputy Kanat Kurmanov and member of the Board Nagira Sharsheeva. Bakhtiyar Sultanov, expert of the Credit and Investment Administration Service, and Urmat Kydyrganov, manager of the Finance and Analytics Service, were invited to the meeting.

As part of the agenda, the Council discussed the progress of implementing previously adopted decisions and instructions; decided to increase the authorized capital of the Fund to 50 million US dollars; amended the Credit and Investment Policy, the Regulations of the Council of the VCFR and the Regulation on the Credit Committee of the Fund; approved the Accounting Policy of the Fund; approved the Board's report on the effectiveness of operations financed by VCFR funds in 2024; approved the execution of the 2024 budget, the work plan for 2025, the Fund's budget for 2025 and the schedule of regular meetings of the Council for 2025. In the "Other" section, the Council discussed the progress of the implementation of financed projects and also considered the prospects of potential investment projects.