Azerbaijan-Kyrgyzstan fund to finance carpet production in Kyrgyzstan

The Azerbaijan-Kyrgyzstan Development Fund and the Kyrgyz company Orion Grand have signed an investment agreement to establish a modern carpet (kovrolin) production facility in Kyrgyzstan, Report informs, citing Kyrgyzstan's Ministry of Economy and Trade.

This agreement outlines funding for the creation of the facility, which will be the first of its kind in the country, as carpets have so far been entirely imported.

The project will enable the launch of domestic carpet manufacturing, create new jobs, and strengthen the country's industrial capacity.

Overall, the value of the project is $3.2 million, of which $1 million will be financed by the Azerbaijan-Kyrgyzstan Development Fund.

The facility will supply not only Kyrgyzstan's domestic market but also export products to Uzbekistan, Tajikistan, Azerbaijan, and other countries.