Kyrgyzstan to Receive a Loan from OPEC for Budget Support

Ирина Орлонская Local news
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Today, January 26, the committee of the Jogorku Kenesh on international affairs approved the ratification of the agreement with OPEC, under which Kyrgyzstan will receive a loan of $30 million. This decision was made in the second reading.

Deputy Minister of Finance Nurbek Akzholov reported that these funds will be provided in the form of budget support. The loan term will be 20 years, including a grace period of five years. The interest rate will be 1.25%.

According to the deputy minister, the funds received will be used to stimulate economic growth. In particular, the state-owned enterprise "Kyrgyzneftegaz" plans to use this budget loan for the modernization of its oil refinery.
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