AGREEMENT BETWEEN THE GOVERNMENT OF THE KYRGYZ REPUBLIC AND GOVERNMENT OF THE RUSSIAN FEDERATION

of May 29, 2014

About development of economic cooperation in the conditions of Eurasian economic integration

The government of the Kyrgyz Republic and the Government of the Russian Federation which further are referred to as with the Parties

in view of the long-term interests of the states of the Parties in development of strategic cooperation enshrined in the Treaty of friendship, cooperation and mutual aid between the Kyrgyz Republic and the Russian Federation of June 10, 1992 and in the Declaration on eternal friendship, alliance and partnership between the Kyrgyz Republic and the Russian Federation of July 27, 2000

proceeding from interest in deepening of mutually beneficial cooperation and promotion on the way of Eurasian economic integration,

considering intention of the Kyrgyz Republic to join the Customs union of the Republic of Belarus, the Republic of Kazakhstan and the Russian Federation,

agreed as follows:

Article 1

For the purpose of further economic cooperation between the Kyrgyz Republic and the Russian Federation within Eurasian economic integration taking into account interests of adaptation and resistance of economy of the Kyrgyz Republic to conditions of the contractual legal base of the Customs union of the Republic of Belarus, the Republic of Kazakhstan and the Russian Federation, the Party will develop interaction, including in the following areas:

- agro-industrial complex;

- clothing and textile industry;

- processing industry;

- mining and metallurgical industry;

- transport;

- housing construction;

- trade;

- development of entrepreneurship;

- development of infrastructure.

Within five months from signature date of this agreement will develop for achievement of stated purposes of the Party and will adopt the Program of cooperation in the conditions of Eurasian economic integration between the Government of the Kyrgyz Republic and the Government of the Russian Federation.

Article 2

For implementation of this agreement of the Party create the Kyrgyz-Russian Fund of development (further - Fund) in the form of the international organization.

The Russian side provides the Kyrgyz Side of funds for projects implementation in the areas mentioned in Article 1 of this agreement by forming of the capital of Fund equal shares within two years with the following provisions:

- the authorized capital in the amount of 500 million US dollars;

- borrowed funds in the amount of at least 500 million US dollars.

Borrowed funds for forming of the capital of Fund shall be raised on the conditions similar provided by International Development Association.

Decisions concerning use of fund are made by agents of the parties jointly.

Control of Fund is exercised by Council of Fund and Board of Fund.

Council of Fund is the supreme body of management of Fund performing strategic management of its activities.

2 representatives from the Kyrgyz Side and 3 representatives from the Russian side are part of Council of Fund.

The board of Fund is permanent collegiate executive body of Fund.

The board of Fund is joined by 3 representatives from the Kyrgyz Side and 2 representatives from the Russian side.

Consideration and approval of investment projects of Fund which amount of investment exceeds 10 million US dollars is within the competence of Council of Fund.

Other questions which solution is assigned to Council of Fund are determined by the Fund charter.

Each member of council Fonda is allocated with one voice.

Investment and credit policy of Fund affirms the unanimous decision of Council of Fund, in case of quorum of 5 members of council.

The following questions are within the competence of Board of Fund:

- development of investment and credit policy of Fund and other programs of activities of Fund;

- preparation of the offers concerning priority of financing of projects, decision making about financing of projects on the amount to 10 million US dollars, preparation for consideration on Council of Fund of the conclusions for investment projects on the amount more than 10 million US dollars.

Other questions which solution is assigned to Board of Fund are determined by the Fund charter.

Each board member Fonda is allocated with one voice.

The status, functions, structure and procedure for functioning of Fund are determined by the free standing agreement taking into account provisions of this Article.

The fund begins the activities no later than three months with signature date of this agreement.

Article 3

The Russian side in addition to the means specified in Article 2 of this agreement provides provision of means on a grant basis in the amount of 200 million US dollars within two years for financing of actions according to implementation of the Actions plan of "road map" of accession of the Kyrgyz Republic to the Customs union of the Republic of Belarus, the Republic of Kazakhstan and the Russian Federation and others, connected with its implementation of actions.

Article 4

Changes which are drawn up by separate protocols can be made to this agreement.

Article 5

The disagreements and disputes connected using or interpretation of provisions of this agreement, are regulated by the Parties by consultations and negotiations.

Article 6

This agreement is temporarily applied after 30 days from the date of its signing and becomes effective from the date of receipt through diplomatic channels of the last written notice of accomplishment of the interstate procedures by the Parties necessary for its entry into force.

It is made in the city of Astana on May 29, 2014 in duplicate, everyone in Russian.

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