Within five years Kyrgyzstan has received from Russia $185 million for the budget support objective

Almaty. February 4. Silkroadnews – Within a period of five years Kyrgyzstan has received from Russia $185 million for the budget support objectives, as reported by the director of the Center for the Advanced Studies of Kyrgyzstan Sergei Masaulov, KyrTAG informs.
According to him, the Russian side has provided Kyrgyzstan with the financial and material support in several directions.
“To support the national budget within the period of 2010 to 2015, Russia gratuitously donated $185 million,” - said S. Masaulov.
Besides, the Russian Federation has allocated $500 mln for the activity by the Russian-Kyrgyz Development Fund (RKDF) and plans to provide another $500 mln as a loan. The Fund has been formed on the basis of the intergovernmental agreement signed between two countries in 2014 and is designed to assist the Kyrgyz entrepreneurs to adapt to the conditions of the Eurasian Economic Union (EEU). The objective of the RKDF is provision of credits on favorable terms to the most promising from an economic point of view projects of Kyrgyzstan.
“Another area of cooperation is the money transmissions from the labor migrants from Kyrgyzstan staying in Russia,” - said S. Masaulov. According to the study, in 2013 the volume of migrants’ transfers to Kyrgyzstan from Russia made $2.2 billion, in 2014 - $2.1 billion. Nevertheless, during the first 6 months of last year the volume of transfers amounted to $325 million only.
He also reminded on the arrangements achieved between Bishkek and Moscow in September 2012, particularly on cancellation by Russia of Kyrgyzstan’s debt in the amount of nearly $489 million and also allocation of the grant in 2009 to the amount of $150 million and $300 million of a preferential credit.