A ski resort in Kyrgyzstan has unveiled a 2.5-meter statue of Russian President Vladimir Putin, after the resort's founder received a $1.2 million loan from a Russian-sponsored development fund.

Erected last month, the monument sees Russia's leader wearing a suit as he looks out over a barren landscape of rocky valleys and snow-capped peaks, 30 kilometers south of the capital, Bishkek.

Resort director Akbar Roziev said he had turned to Kyrgyz banks looking for a credit line but did not find the terms on offer to his liking, whereas the Russian-Kyrgyz Development Fund, opened in 2014, extended him a loan at 4%.