The Russian-Kyrgyz Development Fund (RKDF) has signed an agreement to allocate $25 million in working capital financing to Kaindy-Kant OJSC and Koshoy OJSC, reinforcing efforts to develop Kyrgyzstan’s sugar industry and strengthen national food security, reported trend news agency.
The financing will allow both sugar factories to expand sugar beet procurement and increase production capacity, helping meet domestic sugar demand while supporting the wider agricultural sector. Together, the plants employ about 1,500 workers and provide reliable markets for nearly 3,500 farms, forming part of a supply chain that supports approximately 100,000 jobs across the country, as per the news report.
RKDF Chairman Artem Novikov recalled that the Fund’s earlier investment of $16 million during 2016–2017 enabled the two enterprises to restart operations and reach record production levels. He said the latest funding is intended to further scale up production and enhance the sector’s overall contribution to Kyrgyzstan’s economy.
Data from RKDF show that as of November 1, the largest shares of the Fund’s investments in Kyrgyzstan were directed to the agro-industrial complex ($198.6 million), construction materials production ($187.6 million), manufacturing ($140.4 million), and hydropower ($127.6 million).
Established in 2014, the Russian-Kyrgyz Development Fund works to deepen economic cooperation between Russia and Kyrgyzstan. The Fund focuses on modernizing the Kyrgyz economy through investments in priority sectors including agriculture, manufacturing, infrastructure, and information technology, with a strong emphasis on supporting small and medium-sized enterprises through long-term financing and sustainable growth initiatives.
