Moscow, Russian. In signs of better relations and future plans for cooperation in BRICS nation activities, the Russian Federation has forgiven a loan for $240 million dollars to the Asian Republic of Kyrgyzstan.

Russian Prime Minister Dmitry Medvedev signed an order that approved a one-time write-off of Kyrgyzstan’s debt to Russia in the amount of $240 million, according to information published on the official website containing legal information.

“As of March 30, 2017, the amount owed by the Kyrgyz side to the Russian side … is $240 million dollars, which the Russian Federation will not request repayment of, the financial report said.

This write-off is made as part of Russia’s official program to assist with development in Kyrgyzstan and a view to future cooperation in international projects.

In 2012, Moscow and Bishkek signed an intergovernmental agreement for a loan in the amount of about $500 million. The agreement provides for the complete cancellation of one part of the debt for $188.9 million on the day the agreement goes into effect.

The head of the state debt department of the Ministry of Finance of the republic, Bakyt Sydykov, told the Kyrgyzstan news agency in April that $60 million had already been written off of the $300, and Kyrgyzstan is counting on Russia for a one-time write off of the remaining debt of $240 million, which has now taken place.

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