The directive was submitted by the Finance Ministry.
The goal of the Russian-Kyrgyz Development Fund (hereinafter, the Fund) is to promote bilateral economic cooperation, modernisation and development of the Kyrgyz economy, and the effective use of opportunities arising from the participation of the parties in Eurasian economic integration. Provisions have been made for the Russian side to oversee the Fund’s activities. In particular, all decisions of the Fund’s Council (primary governing authority) will be taken by consensus. Decisions by the Fund’s Board, which is responsible for day-to-day management of its activities, will be taken by a simple majority of votes.
The procedure for taking decisions regarding investments and project financing will be determined based on the Fund’s investment and lending policies approved by the Fund’s Board.
The document was reviewed and approved at a Government meeting on 30 October 2014.