Prime Minister Sapar Isakov signed a governmental decree on creation of the Public Fund “Nature Development Fund”, which will improve the environmental situation in the country, including the implementation of Kumtor project.
The government of the republic is the founder of the Public Fund “Nature Development Fund". The activities of the Fund are aimed at strengthening measures for protection of environment and development of environmental measures, implementation of the Strategic Agreement on Environmental Protection and Investment Development between the Government and Centerra Gold Inc. and Closed Joint-Stock Company Kumtor Gold Company of September 11, 2017.
The sources of the Fund's property development are in cash or in other forms: In accordance with the Strategic Agreement there will be a one-time payment from a closed joint-stock company Kumtor Gold Company in the amount of $ 50 million and annual payments of $ 2.7 million starting from 2017 until the end of the Kumtor mine operation. In addition, funding is provided through voluntary contributions and donations, as well as other revenues not prohibited by the legislation of the republic.
Payments made to the Fund by the closed joint-stock company Kumtor Gold Company in accordance with the Strategic Agreement will be used exclusively for the development of environmental protection and conservation of natural resources, development of the capacity of environmental specialists in the area adjacent to the Kumtor mine and of the whole territory of Kyrgyzstan, for support of ecological and natural well-being, assistance to sustainable development of the republic's natural resources.
On September 11, 2017, signing ceremony of the Strategic Agreement on Environmental Protection and Investment Development between the government and Centerra Gold Inc. was held in the Government House.
The Strategic Agreement creates conditions for improving the environmental situation by implementing the Kumtor project. According to the document, Centerra Gold Inc. takes on new obligations aimed at expanding the financing of environmental activities, primarily in the water area of Lake Issyk-Kul.
Reported by Kabar (Kyrgyzstan).