Kyrgyzstan Company to Receive Subsidies from the EAEU Budget for Project Implementation

Арестова Татьяна Economy
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The Council of the Eurasian Economic Commission has decided to allocate subsidies from the budget of the Eurasian Economic Union to support two new projects under the industrial cooperation financing mechanism. This was reported by the press service of the EEC.

According to the commission's information, one of the projects is being implemented jointly by the Russian company "Beshtau Electronics," the Belarusian LLC "Nero Electronics," and the Kyrgyz LLC "Kyrgyzelektronika," and will focus on the production of system units for personal computers.

“This is a significant step in our work to implement a new supranational financing tool. Two more projects have been added to the three previously approved. It is important that all member states participate in these initiatives. I am confident that the implementation of these projects will strengthen economic ties between our countries,” commented the commission's minister for industry, Goar Barsegyan, on this event.

The financial support mechanism for producers within the EAEU includes subsidizing interest rates on loans and credits provided by financial organizations for the implementation of joint projects from the union's budget.

“The heads of state of the EAEU have approved unique conditions for business — a compensation of 100% of the key rate of the central (national) bank of each member state,” the message notes.

Previously, 16 applications for subsidies were submitted to the EEC, including one from Kyrgyzstan. As a result, five projects received approval, while the other applications are at various stages of consideration.
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