Kyrgyzstanis to be able to get up to KGS 1 mln to start business

Bishkek, Aug.7, 2019. /Kabar/. The Russian-Kyrgyz Development Fund allocated KGS 70 million to finance start-up projects, and the money will be distributed to all regions of Kyrgyzstan, Deputy Chairman of the State Agency for Youth Affairs, Physical Culture and Sports Mirlan Parkhanov told at the press conference at Kabar News Agency.
At the Forum of Young Leaders of Kyrgyzstan and Russia, the Fund presented this program and the terms of application. "For many years, it has been supporting large businesses and large projects. We constantly asked the Fund to make the conditions easier and to develop small and medium businesses. For this purposes, it has launched a project that issues up to KGS 1 million, to which all citizens can already apply.
The program itself is aimed at the acquisition of fixed assets (modernization, overhaul) in sectors such as agricultural processing, clothing and textile industry, manufacturing and processing industry, tourism, IT-technologies," Parkhanov stressed.
Note, the funds are issued for a period of 5 years at 10% per annum.