Azerbaijan and Kyrgyzstan to set up joint development fund

Within the framework of the state visit of Azerbaijani President Ilham Aliyev to Kyrgyzstan, an Agreement was signed between the Government of Azerbaijan and the Cabinet of Ministers of Kyrgyzstan on the establishment of the Azerbaijan-Kyrgyz Development Fund.

Report informs citing the mass media of Kyrgyzstan that the Development Fund will be an international organization - a subject of international law, with international legal capacity and the right to conclude international treaties.

The fund was established to promote economic cooperation between Azerbaijan and Kyrgyzstan, modernize and develop the economy, and effectively use opportunities.