Russian Federation has transferred a $300 million concessional loan to Kyrgyzstan, the Kyrgyz National Bank informed the news agency “24.kg”.

The Russian $150 million unrequited grant was received on March 30, 2009. After that, the President Kurmanbek Bakiev stressed that this money will be spent for creation of new working places and business projects implementation.

It must be noted that the money was transferred according to the agreements reached by the two sides during the visit of Bakiev to Moscow. On February 3, 2009 the sides have inked an agreement on providing Kyrgyzstan with a $2 billion state loan and an unrequited financial aid of $150 million.

According to Marat Alapaev, director of the Kyrgyz National Bank, the funds have already entered the Kyrgyz Finance Ministry’s accounts.