Kazakhstani-Kyrgyz Investment Fund (KKIF) official presented in Bishkek

Ambassador of Kazakhstan Beibit Issabayev, Deputy Ministry of Economy and Anti-Monopoly Policy of the Kyrgyz Republic Sanzhar Mukanbetov, CEO of Kazyna Capital Management Borisbiy Zhangurazov and businessmen of both countries participated in the event, according to the press service of the Kazakh MFA.

In his speech the Kazakh envoy noted it was idea of President of Kazakhstan Nursultan Nazarbayev to create a fund to facilitate Kyrgyzstan's economic development suggested back in 2007, however, the sides started implementing this project only in 2011.

The Kazakhstani diplomat also stressed that KKIF funds would be forwarded into Kyrgyzstan's most perspective projects.

KKIF's registered capital amounts to USD 100 million, fully funded by the Kazakhstani side. KKIF has already evaluated 82 projects of the companies operating in Kyrgyzstan in the 1H of 2012. The selected projects will be submitted for consideration of the KKIF's Board of Directors.

The KKIF's main objective is to render financial assistance to Kyrgyzstan's economy through implementation of the priority projects on its territory and effective development of SME in Kyrgyzstan.