Russia will allocate 500 million dollars to support the economy of Kyrgyzstan.

Russia will allocate 500 million dollars to support the economy of Kyrgyzstan for its swift accession to the Eurasian Economic Union, stated the head of the Russian Foreign Ministry, Sergey Lavrov, following a meeting between Russian President Vladimir Putin and his Kyrgyz counterpart Almazbek Atambayev.

“Agreements have been coordinated and confirmed regarding the creation of instruments that will allow for the accelerated development of the Kyrgyz economy and its harmonization with the processes of Eurasian integration, totaling approximately 500 million dollars,” Lavrov said.

“This will be Russia's contribution to support the Kyrgyz economy so that it can comfortably integrate into the processes of Eurasian economic integration,” he added.

Lavrov noted that the plans of the two countries in the field of military-technical cooperation within the framework of allied relations under the CSTO have been confirmed.

According to the minister, the two presidents also confirmed agreements on the implementation of major projects in the energy sector.

“These agreements are already being implemented; they concern the construction projects of the Kambaratinskaya HPP and the Upper Naryn cascade of HPPs, and additional instructions have been agreed upon to expedite the resolution of issues necessary for the practical implementation of these two major hydropower projects,” Lavrov said.

The agreement to establish the EEU based on the Single Economic Space of Belarus, Kazakhstan, and Russia was signed in May 2014 and will come into force on January 1, 2015. Armenia and Kyrgyzstan have announced their intention to join the union.

Sergey Volodin,

Source: Information Agency of the Eurasian Union Rus.kg