Under the chairmanship of Bakyt Sydykov, Minister of Economy and Commerce of the Kyrgyz Republic and Chairman of the Council of the Hungarian-Kyrgyz Development Fund (hereinafter – HKDF or the Fund), the extraordinary twenty-first meeting of the Fund’s Council was held.

The meeting was attended by Marton Kovacs, Deputy Chairman of the Council, Economic Attaché of the Embassy of Hungary in Tashkent; David Batari, Council Member, Economic Attaché of the Consulate General of Hungary in Saint Petersburg; Ruslan Suinaliev, Council Member, First Deputy Minister of Finance of the Kyrgyz Republic; and Temirbek Erkinov, Council Member, Deputy Minister of Foreign Affairs of the Kyrgyz Republic.

Reports on the agenda items were presented by Ulan Sarbanov, Chairman of the HKDF Management Board; his Deputy, Kanat Kurmanov; and Board Member Nagira Sharshieva. Invited experts included Bakhtiyar Sultanov (Credit and Investment Administration Service) and Urmat Kydyrganov (Finance and Analytics Service).

The Council approved:

a) a change in the targeted use of the sub-loan under the small hydropower plant construction project; b) the "Internal Control Regulations.

The Council also reviewed the implementation progress of previous decisions and instructions, and approved agreements on cooperation with the "Guarantee Fund" OJSC, as well as the placement of temporarily idle funds in "Eldik Bank" OJSC and "Aiyl Bank" OJSC. The adopted decisions are aimed at the sustainable development of projects, improvement of internal business processes, and expansion of cooperation with financial institutions.