Kyrgyz-Russian business partnership

Target Borrowers

Commercial companies of various organizational and legal forms (residents of the Kyrgyz Republic) with a stable financial position that carry out cost-effective activities in the territory of the Kyrgyz Republic.

New projects (greenfield or start-up) can be considered, provided that there is an existing business that is not related to the investment project.

Russian component

At least one of the following components is a mandatory requirement:

  • At least 30% of the participation in the capital of the Russian investor;
  • At least 70% of products are exported to the Russian Federation;
  • At least 50% of the loan will be used to purchase high-tech equipment from the Russian Federation.
  • At least 70% of the loan will be used to purchase equipment and technologies from the Russian Federation.


Purchase, renewal, expansion and modernization of fixed assets, in the following sectors: agro-industrial complex, clothing and textile industry, processing industry, mining and metallurgical industry, transport, infrastructure development, including tourism, medicine and education infrastructure, as well as other long-term industrial investments aimed at achieving the goals and objectives specified in the RKDF  Charter.


From 200 thousand US dollars in the regions of the Kyrgyz Republic;

From 1 million US dollars in Bishkek.


US Dollar, Kyrgyz Som, Russian Ruble


Investment projects - up to 10 years, depending on the industry

Funds added to current assets – up to 3 years.

Exemption period

It is possible to have a deferral for a loan principal repayment up to 24 months.

Borrower own contribution

Minimum 20% of the project cost.

Up to 10% of the project cost can be presented in the form of assets involved in the project implementation.

The Applicant own contribution is made in full before the RKDF funds availability or before each of the tranches availability in the amount of at least 20% of the tranche.

Interest rate

The interest rate for investment purposes is set in the following amounts:

  • 4% per annum in US dollars;
  • 8% per annum in KGS;
  • The interest rate in Rubles is set individually based on the parameters and conditions of a particular transaction.

Loan in the national currency can be used exclusively for the purchase of goods and services produced in the territory of the Kyrgyz Republic.

Loan in Russian Rubles can be used exclusively for the purchase of goods and services produced in the territory of the Russian Federation.

Collateral security

In accordance with the RKDF regulations.

The following items can be accepted as a collateral security:

  • guarantees of banks of the Russian Federation (if the bank has a long-term rating on an international scale issues by any of following rating agencies: Standard and Poor’s (S&P) or “Fitch Ratings” - from BB-, Moody’s - from Ba3);
  • property located on the territory of the Russian Federation. 

Qualifications of an applicant

  • No negative credit history;
  • No negative business history and reputation.

Technical assistance

At the project preparation and implementation stage, it is possible to provide technical assistance on a grant basis through the SPSF.

Incentive mechanism

Based on the results of the calendar year ½ part of the paid interest on the loan in US dollars and ¼ part of the paid interest on the loan in KGS is returned to the Borrower provided the following conditions are met each year:

  • The reversion of the interest charges becomes vested upon confirmation of the presence of the Russian component specified in clause 2.
  • The reversion of the interest charges becomes vested upon 12 months from the date of the termination of the exemption period (vacation) for the loan principal, but not earlier than the date of the continuous production start-up (after the end of the first production cycle).
  • The reversion of the interest charges does not apply to the exemption period.
  • The amount of interest returned should be used for purposes related to the ongoing project.
  • No restructuration/prolongation of the RKDF loan.
  • Absence of delays in loan principal and interest repayment for more than 3 working days per one payment and more than 15 working days in total to the RKDF and to the current liabilities with respect to other CFI.
  • Absence of facts of funds misapplication.

The requirement for no delay applies to all obligations of the Borrower and related companies to the RKDF.

The borrower is obliged to comply with all obligations and covenants established by agreements with the RKDF.

The reversion of the interest charges on loans in Russian rubles is not applicable.