This initiative was discussed during the 9th meeting of the Kyrgyz-Austrian Commission on Bilateral Economic Relations held in Vienna. During the event, Kyrgyz Deputy Minister of Economy and Commerce, Sanjar Bolotov, met with Shaimaa Al-Sheibi, Vice President of the OPEC Fund.
In their discussions, Bolotov highlighted the current economic landscape in Kyrgyzstan, focusing on ongoing reforms aimed at fostering a conducive business environment and attracting foreign investment. He particularly emphasized the significance of key strategic projects, such as the construction of the Kambarata Hydropower Plant-1 and the China-Kyrgyzstan-Uzbekistan railway, both of which are vital for enhancing the nation’s infrastructure.
The Deputy Minister urged the OPEC Fund to consider participating in projects across various sectors, including energy, transport infrastructure, agriculture, and housing development.
Additionally, the two sides explored the potential for financing private investment projects in accordance with the Framework Agreement on the Organization of Private Sector Operations between Kyrgyzstan and the OPEC Fund, which was signed on August 22, 2024.
It is important to note that the OPEC Fund, established in 1976, is a multilateral development financial institution with 12 member countries: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela. The Fund is recognized as the only globally authorized development institution that provides funding exclusively to non-member countries from its member states.
