Azernews.Az

Russia plans to support the development of Kyrgyzstan's financial system by providing $30 million.

Chairman of the Federation Council of the Russian Federation Valentina Matviyenko made the remark at the meeting with Kyrgyz Prime Minister Dzhoomart Otorbayev on October 21.

"Some $60 million was allocated for the fiscal balance in Kyrgyzstan this year. Currently a government decree on allocation of $30 million is being prepared," Matviyenko said.

She further noted that one of the priority spheres of cooperation between Russia and Kyrgyzstan is energy.

Gazprom's entry into Kyrgyz energy market is extremely important for the country's oil and gas sector, which will provide the stability and investments in the amount of 20 billion roubles within five years, according to Matviyenko.

Matviyenko also said that Western sanctions against Russia will not prevent the country from the implementation of the projects in Kyrgyzstan.

"Russia always fulfils its obligations and will further continue to do so," she said, noting that Russia's domestic resources enable to continue the implementation of the projects started in Kyrgyzstan.

"Moreover, retaliatory measures, in particular, the ban on the supplies of agricultural products open new opportunities for Russia's CIS partners," Matviyenko said.