Prime Minister Dmitry Medvedev has approved a one-time write-off of Russia’s debt on loans of Kyrgyzstan to $ 240 million. Signed by the head of the government decree published on the official portal of legal information.
The document notes that the cancellation was agreed with the Ministry of foreign Affairs of Russia and Vnesheconombank.
“As of March 30, 2017, the amount of debt of the Kyrgyz side to the Russian side is $ 240 million. 100 percent of the amount of debt of the Kyrgyz side in front of the Russian party are subject to lump-sum write-off the date of entry into force of this Protocol”, – said in the text of the decree. Thus, Moscow will write off Bishkek full amount of the debt.
The document clarifies that the debt will be written off “within the framework of the Russian Federation of assistance to development of the Republic of Kyrgyzstan”.
The Protocol will enter into force “from the date of receipt through diplomatic channels of the last written notification about fulfillment by the Parties of the” necessary domestic procedures.
In the first half of 2016, Russia has written off Kyrgyzstan’s debt of $ 30 million. In total over the past 11 years, the Russian Federation forgave the Republic 703,2 million dollars of external debt.